Search results
Results from the WOW.Com Content Network
The term marine is of historical origin and the insurance definition has evolved to include a wide range of property and materials that are not marine related but may be in transit or deemed mobile including: property in transit, property in the custody of a bailee, property deemed to be an instrumentality of transportation or communication ...
A bailment relationship between the bailor and bailee is generally less formal than a fiduciary relationship. [3] In addition, unlike a lease or rental, where ownership remains with the lessor but the lessee is allowed to use the property, the bailee is generally not entitled to the use of the property while it is in his possession. However, a ...
warehouser's lien—a lien for storage charges for goods stored with a bailee (sometimes called a warehouseman's lien). workers' compensation lien—a statutory lien asserted by a healthcare provider to recover the cost of emergency and ongoing medical work, usually asserted against any compensation benefits paid to a patient.
An insurance policy is a contract where the homeowner and insurance company agree that in exchange for a premium payment, the insurance company will provide compensation for the repairs or ...
Mortgage insurance is an insurance policy that protects the mortgage lender, but the borrower is the one who pays for it. With mortgage insurance, the lender or titleholder is covered in case you ...
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
An intriguing aspect of life insurance, especially within whole life policies, is the concept of limited-pay life insurance. This variation allows for a more accelerated premium payment schedule ...
In a bareboat charter, no administration or technical maintenance is included as part of the agreement. The charterer obtains possession and full control of the vessel, along with the legal and financial responsibility for it. The charterer pays for all operating expenses, including fuel, crew, port expenses and P&I and hull insurance.