defects in SEC. 2635. All defects in a notice of loss, or in prelim- Waivers of inary proof thereof, which the insured might remedy, and which the insurer omits to specify to him, without unnecessary delay, as grounds of objection, are waived. N. Y. C. C., Sec. 1437. notice, etc. delay. SEC. 2636. Delay in the presentation to an insurer of Waiver of notice or proof of loss is waived, if caused by any act of his, or if he omits to make objection promptly and specifically upon that ground. N. Y. C. C., Sec. 1438. when dispensed with. SEC. 2637. If a policy requires, by way of preliminary Certificate, proof of loss, the certificate or testimony of a person other than the insured, it is sufficient for the insured to use reasonable diligence to procure it, and in case of the refusal of such person to give it, then to furnish reasonable evidence to the insurer that such refusal was not induced by any just grounds of disbelief in the facts necessary to be certified. N. Y. C. C., Sec. 1439. ARTICLE XI. DOUBLE INSURANCE. SECTION 2641. Double insurance. 2642. Contribution in case of double insurance. insurance. SEC. 2641. A double insurance exists where the same Double person is insured by several insurers separately in respect to the same subject and interest. N. Y. C. C., Sec. 1440. SEC. 2642. In case of double insurance, the insured may claim payment of a loss from any one of the insurers, who, on paying it, may require the others to contribute ratably thereto. N. Y. C. C., Sec. 1441; Ang. Ins., 22; 3 Kent Com., 280. ARTICLE XII. RE-INSURANCE. Re-insurance, what. Disclosures required. Re-insurance pre SECTION 2646. Re-insurance, what. 2647. Disclosures required. 2648. Re-insurance presumed to be against liability. 2649. Original insured has no interest. SEC. 2646. A contract of re-insurance is one by which an insurer procures a third person to insure him against loss or liability by reason of such original insurance. N. Y. C. C., Sec. 1442. SEC. 2647. Where an insurer obtains re-insurance, be must communicate all the representations of the original insured, and also all the knowledge and information be possesses, whether previously or subsequently acquired, which is material to the risk. N. Y. C. C., Sec. 1443; 2 Duer Ins., 429. SEC. 2648. A re-insurance is presumed to be a contract sumed to be of indemnity against liability, and not merely against against liability. Original insured has no interest. damage. N. Y. C. C., Sec. 1444; Ang. Ins., 138. SEC. 2649. The original insured has no interest in a contract of re-insurance. N. Y. C. C., Sec. 1445. CHAPTER II. MARINE INSURANCE. NOTE. We repeat that "rules respecting marine insurance which are but applications of the principles of international law to this subject are not embraced in these provisions, as they are not within the scope of a municipal statute." ARTICLE I. DEFINITION OF MARINE INSURANCE. II. INSURABLE INTEREST. III. CONCEALMENT. IV. REPRESENTATIONS. V. IMPLIED WARRANTIES. VI. THE VOYAGE, and DEVIATION. VII. Loss. VIII. ABANDONMENT. IX. MEASURE OF INDEMNITY ARTICLE I. DEFINITION OF MARINE INSURANCE. SECTION 2655. Marine insurance, what. insurance, SEC. 2655. Marine insurance is an insurance against Marine risks connected with navigation, to which a ship, cargo, what. freightage, profits, or other insurable interest in movable property, may be exposed during a certain voyage or a fixed period of time. N. Y. C. C., Sec. 1446; 3 Kent Com., 203. ARTICLE II. INSURABLE INTEREST. SECTION 2659. Insurable interest in a ship. 2660. Interest reduced by bottomry. 2661. Freightage, what. 2662. Expected freightage. 2663. Interest in expected freightage, what. 2664. Insurable interest in profits. 2665. Insurable interest of charterer. Insurable interest in SEC. 2659. The owner of a ship has in all cases an insurable interest in it, even when it has been chartered by a ship. one who covenants to pay him its value in case of loss. N. Y. C. C., Sec. 1447. SEC. 2660. The insurable interest of the owner of a ship hypothecated by bottomry is only the excess of its value over the amount secured by bottomry. N. Y. C. C., Sec. 1448. Interest bottomry. reduced by what. SEC 2661. Freightage, in the sense of a policy of ma- Freightage rine insurance, signifies all the benefit derived by the owner, either from the chartering of the ship or its employment for the carriage of his own goods or those of others. The word "freightage" is used throughout this Code, instead of "freight," to signify the hire of a carrier, for the obvious reason that the latter word properly means the thing carried. The word "freightage" is given in Webster's, Worcester's and Bouvier's Dictionaries, in the sense in which it is here used. N. Y. C. C., Sec. 1449. Szc. 2562. The owner of a ship has an insurable inter- Expected est in expected freightage which he would have certainly freightage. Interest in expected freightage, what. Insurable interest in profits. Insurable interest of charterer. earned but for the intervention of a peril insured against. N. Y. C. C., Sec. 1450. SEC. 2663. The interest mentioned in the last section exists, in the case of a charter party, when the ship has broken ground on the chartered voyage; and, if a price is to be paid for the carriage of goods, when they are actually on board, or there is some contract for putting them on board, and both ship and goods are ready for the specified voyage. N. Y. C. C., Sec. 1451. SEC. 2664. One who has an interest in the thing from which profits are expected to proceed, has an insurable interest in the profits. N. Y. C. C., Sec. 1452. SEC. 2665. The charterer of a ship has an insurable interest in it, to the extent that he is liable to be damnified by its loss. N. Y. C. C., Sec. 1453. ARTICLE III. Information must be com. municated. Material information. CONCEALMENT. SECTION 2669. Information must be communicated. 2670. Material information. 2671. Presumption of knowledge of loss. 2672. Concealments which only affect the risk in question. Sec. SEC. 2669. In marine insurance each party is bound to communicate, in addition to what is required by 2563, all the information which he possesses, material to the risk, except such as is mentioned in Sec. 2564, and to state the exact and whole truth in relation to all matters that be represents, or upon inquiry assumes to disclose. N. Y. C. C., Sec. 1454; 2 Duer Ins., 381, 388; Ang. Ins., 200. SEC. 2670. In marine insurance, information of the belief or expectation of a third person, in reference to a material fact, is material. N. Y. C. C., Sec. 1455; 2 Duer Ins., 388. of knowledge of loss. SEC. 2671. A person insured by a contract of marine Presumption insurance is presumed to have had knowledge, at the time of insuring, of a prior loss, if the information might possibly have reached him in the usual mode of transmission, and at the usual rate of communication. This is the rule which prevails in continental Europe; and its adoption here is recommended by Mr. Duer (2 Duer Ins., 433). N. Y. C. C., Sec. 1456. SEC. 2672. A concealment in a marine insurance, in respect to any of the following matters, does not vitiate the entire contract, but merely exonerates the insurer from a loss resulting from the risk concealed: 1. The national character of the insured. 2. The liability of the thing insured to capture and detention. 3. The liability to seizure from breach of foreign laws of trade. 4. The want of necessary documents; and, 5 The use of false and simulated papers. N. Y. C. C., Sec. 1457. Concealonly affect question. ments which the risk in ARTICLE IV. REPRESENTATIONS. SECTION 2676. Effect of intentional falsity. 2677. Representation of expectation. intentional SEC. 2676. If a representation, by a person insured by Effect of a contract of marine insurance, is intentionally false in falsity. any respect, whether material or immaterial, the insurer may rescind the entire contract. N. Y. C. C., Sec. 1458. tion of SEC. 2677. The eventual falsity of a representation as Representato expectation does not, in the absence of fraud, avoid a expectation. contract of insurance. N. Y. C. C., Sec. 1459. |