The primary purpose of this study is to point out the rising problem from which the insured value is remarkably different from the sound value of the ship in the Institute Time Clauses-Hulls(1. 10. 83.) and that of the ship in the Marine Insurance Act...
The primary purpose of this study is to point out the rising problem from which the insured value is remarkably different from the sound value of the ship in the Institute Time Clauses-Hulls(1. 10. 83.) and that of the ship in the Marine Insurance Act, 1906. Its secondary purpose is to suggest remedial methods for these problems and to contribute to the reduction of premium for shipowners.