This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 Excerpt: ...of opinion was expressed as to when and how payment of claims should be made. On this matter the Sub-committee reported that "the general principle underlying the proposed arrangements between the State and the Clubs is that the Clubs take the whole of the risks, and reinsure 80 per cent. of them with the State. A Club ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 Excerpt: ...of opinion was expressed as to when and how payment of claims should be made. On this matter the Sub-committee reported that "the general principle underlying the proposed arrangements between the State and the Clubs is that the Clubs take the whole of the risks, and reinsure 80 per cent. of them with the State. A Club would, therefore, be primarily liable for the settlement of the amount involved." The conclusion was reached that "the State had no concern with the internal arrangements of the Clubs with regard to the collection of the contributions from their members to an ascertained loss. Even if the Club were unable to collect from its members the whole amount required, this would not affect the State's liability to pay over its 80 per cent. of an agreed claim to the Club." The rules of all the Clubs then existing provided that if a ship were captured, seized, or detained, the owner should have no claim for total loss unless the capture, seizure, or detention, should have continued for a certain period. This period varied in the different Clubs from one month to six months. The Sub-committee proposed that, under the arrangement with the State, the Clubs should not be bound to pay a total loss if the ship were recaptured, released, or restored to the owner within six months of the date of capture; but if the vessel was restored, the Club should pay the cost of repair or damage to and expenses incurred by the ship by reason of such capture, together with a sum equal to 10 per cent. per annum on the insured value from-the date of capture. Also, in the event of loss by destruction, it was decided that no payment should be made within a period of six months of the loss. It followed, therefore, that the earliest time of payment by the Stat...
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Add this copy of The Merchant Navy Volume 1 to cart. $24.16, new condition, Sold by Books2anywhere rated 5.0 out of 5 stars, ships from Fairford, GLOUCESTERSHIRE, UNITED KINGDOM, published 2013 by HardPress Publishing.
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Add this copy of The Merchant Navy Volume 1 to cart. $37.45, new condition, Sold by Paperbackshop rated 4.0 out of 5 stars, ships from Bensenville, IL, UNITED STATES, published 2013 by HardPress Publishing.