Summary |
Innovations in the practice of marine insurance have necessitated certain additions and amendments. In particular, mention may be made of the Wartime Extension Clauses, which in 1943 came into obligatory use in all policies covering cargo against marine perils.
During 1943 underwriters decided to modify the agreement which was made in 1937, under which it was decided to restrict was risk to the period whilst the goods were on board the ocean-going vessel. The modification consisted of a decision to grant cover, if required, for an unlimited period whilst the goods were lying at a part of transshipment, whether on board the ocean-going vessel or elsewhere. The Wartime Extension Clauses and the decision to cover was risks at ports of Tran-shipment are indications of the manner in which underwriters have endeavored to accommodate merchants and shippers in a difficult period.
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