by LenaB » Wed Feb 29, 2012 01:04 am
Hello, my name is Lena, I'm a student and I'm currently working on transposing a marine insurance policy into English for general purposes.There are a couple of elements which I don't understand in the policy and I was wondering if I could ask my questions here since most of you are professional insurers? Any help would be greatly appreciated.
Best regards,
Lena
Best regards,
Lena
Posted: Wed Feb 29, 2012 04:12 pm Post Subject:
Ask away. We'd be happy to help you out.
Posted: Wed Feb 29, 2012 11:48 pm Post Subject:
Thank you ! I'm afraid I don't really understand the first sentence of the following clause :
Percentage Of Glass, etc.: Warranted that maximum percentage of Glass, China, Marble, Earthenware and the like does not exceed 15% of the total sum insured, or H/C. The foregoing does not apply if loss or damage is caused directly from, stranding, sinking, or collision of the Vessel or collision or overturn of transporting land conveyance. The foregoing does not apply if such articles were professionally packed.
At first I thought it meant that the insurer would pay the value of the damaged goods (in this case glass, china and the like) to the assured as long as that amount did not exceed 15% of the total sum insured.
But I asked a friend what he thought, and he did not understand it like that. He thinks it means that if an item (made of glass or china etc...) that wasn't on the insurance gets damaged, then the insurer agrees to give a partial refund of it anyway, but that refund cannot exceed 15% of the value of the item.
I found that "H/C" means "held-covered", which would make more sense if the second explanation is right, but I need to be sure.
I would be very grateful if anyone could shed some light on the subject.
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