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17 Cards in this Set
- Front
- Back
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What is gross- tonnage? |
A measurement of the volume of a vessel's enclosed space. |
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What is net-tonnage? |
A vessel's gross tonnage minus the space used for crew quarters, navigation, propulsion machinery, a better measurement of the the space used for carrying cargo. |
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(GRT) Gross register(ed) tonnage |
A vessel's gross tonnage as recorded by the vessel's classification society. |
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what is deadweight? |
The difference between a vessels loaded displacement and its light displacement, representing hoe much weight the vessel can carry. |
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what is the draft of a vessel? |
The depth of a vessel below the water. |
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what is a vessel's freeboard? |
Distance between the waterline and the freeboard deck, measured from the middle of the vessel. |
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what is a vessel's load line? |
A line marked on the side of a cargo vessel indicating the maximum depth to which the vessel can be legally loaded. |
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What is the classification warranty? |
An express warranty in a hull policy that the assured will operate its insured vessels during the policy period in accordance with any requirements or restrictions imposed by the classification society. |
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What is the American institute Port Risk Endorsement? |
Attached to the AIHC when the vessel will be laid up & out of commission for the entire policy period or longer. |
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What is the in personam liability clause? |
Added to tug policies to cover liability resulting from the actions of the tug captain while giving orders on board the vessel that the tug is assisting. |
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What is catch cover? |
Insurance on a fishing vessel's "catch" added by endorsement to the vessel hull policy. |
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What is the American Institute Builder's risks clauses? |
Used in the american market to insure vessels under construction; includes hull, collision liability, and p&I coverage. |
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What is the American institute ship repairers liability clauses? |
Form for covering a ship repairer's liability for customers' vessels in their care, custody, or control; also provides limited coverage for damage to property of others resulting from operation of a vessel in their care. |
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What is the Himalaya clause? |
Clause in a bill of lading in which the cargo liability limitations available to carriers are extended to terminal operators and stevedores. |
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(MOLL) Marina operator's legal liability insurance |
Covers a marina operator's liability for damage to boats of marina customers while in the marina's care, custody, or control. In the current market place this is also extended to cover additional loss exposures such as those covered by a CGL policy. |
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What is a boat owner policy? |
Policy used for insuring small pleasures boats. |
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What is a yacht policy? |
Policy covering pleasure boats that exceed an insurer's size and value guidelines for boat owner policies. |
