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Like ocean marine insurance, inland marine insurance has been traditionally less regulated in the United States. [3] Inland marine policies became known as "floaters" since the property to which coverage was originally extended was essentially "floating." The coverage has grown to include property that just involves an element of transportation.
The law also changed the name of the program from the America's Marine Highway Program to the United States Marine Highway Program. Research has shown [ 5 ] that transporting by barge or ship is the most fuel-efficient method of transporting goods (per Ton-Mile ), being over eight times more efficient than tractor-trailers and double what is ...
The Marine Insurance Act includes, as a schedule, a standard policy (known as the "SG form"), which parties were at liberty to use if they wished. Because each term in the policy had been tested through at least two centuries of judicial precedent, the policy was extremely thorough. However, it was also expressed in rather archaic terms.
The Waterways Journal publishes several authoritative reference works for the river industry. These include the Inland River Record, a complete listing of inland commercial vessels updated annually, and the Inland River Guide, an annual directory of companies with waterways-related business, including barge and towing companies; harbor fleeting companies; terminals; shipyard and repair ...
The Act is relatively short. The text of its first section (including the preamble) is set out below: [5] [6] WHEREAS it hath been found by Experience, that the making Assurances, Interest or no Interest, or without further Proof of Interest than the Policy, hath been productive of many pernicious Practices, whereby great Numbers of Ships, with their Cargoes, have either been fraudulently lost ...
Several forms of fidelity guarantee cover are available: an individual policy or "floater policy", relating to a named employee; a collective policy, covering a group of employees; or a "blanket policy" which would cover a generic category of employee, such as those who handle the company's cash. [10]
The Marine Equipment Directive, also known as Directive 2014/90/EU, often called MED (or M.E.D.) in everyday language, is an approval of equipment and products for the Marine industry. Initiative of the European Commission
In 1968, by an act of the Virginia General Assembly, the Fish Commission was renamed the Virginia Marine Resources Commission to better reflect its growing mission. [8] In the mid to late 1980's the "Inspectors" role changed as the agency transitioned to the Marine Patrol, where its members became sworn law enforcement officers with police powers.