A "Sue and Labor" clause
A) directs the shipper to act in the best interest of the insurance company when a loss occurs.
B) is the same as an Inchmaree clause.
C) specifies that the insurer will reimburse the shipper for goods that have been abandoned after a stranding or a sinking, as long as the costs of recovering the goods and making them marketable is greater than their value.
D) All of the above
E) None of the above
Correct Answer:
Verified
Q36: A ship valued at $1,337,500 is carrying
Q37: The problem of "flags of convenience" in
Q38: Premiums in an open ocean cargo policy
A)
Q39: All marine insurance policies carry a general
Q40: A special cargo policy
A) is an insurance
Q42: Even in good weather,cargo is subject to
Q43: "Warehouse-to-Warehouse" coverage is an extension to the
Q44: Airfreight insurance policies
A) are more complicated than
Q45: Insurance coverage designed to fill the gap
Q46: A major financial problem occurred for Lloyd's
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents