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Notes on the Policy of Marine Insurance, with suggestions for its revisal, and proposed forms for a new Policy
Published online by Cambridge University Press: 18 August 2016
Extract
“ — Si quid novisti rectius istis
“ Candidus imperti ; si non, his utere mecum.”—HOR.
In making this contribution to the spirit of advance which is characteristic of our age, the writer is fully aware of the danger of reforms. He remembers “the grace which antiquity can lend” even “to error;” and that by an almost universal instinct the Past is consecrated in the eyes of the Present. Thus, the half-lights and imperfections of our forefathers are clung to with a generous pertinacity. We endeavour to manage with the customs and remedies which sufficed for an early state of society, rather than frame new ones to suit the exigencies of our altered condition. In fact, to speak with Scaliger, we had rather eat acorns with our ancestors than bread with the men of our own generation.
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- Copyright © Institute and Faculty of Actuaries 1851
References
page 51 note * The words printed in italics are left blank in the Policy ; they are inserted to give continuity to the form. The singular pronoun used is to imply one or more persons.
page 56 note * The last five words need not be introduced when the Policy is used by a Company.
page 57 note * It were much to be wished that deck-cargoes could be altogether abolished. They necessarily tend to raise the centre of gravity in respect to the centre of flotation, and consequently, to destroy the stability of the ship's equilibrium ; they cumber the deck, and place obstacles in the way of manoeuvring, and are themselves, from their situation, an unsafe venture. The Legislature very wisely restricted the legality of carrying deck-loads within certain seasons. The custom of taking them is so general that it would, perhaps, be now scarcely possible altogether to abolish them, but very stringent conditions ought to be imposed on their use.
page 58 note * These last five words are not to be introduced when the Policy is used by a company.
page 58 note † N.B. By corn and seed are meant all descriptions of these articles in which the germinating power continues. When that is destroyed by any process before shipment, the product is not excluded from claims for partial loss.
page 59 note * These last five words are not to be introduced when the policy is used by a company.