Ocean marine insurance definition

Ocean marine insurance means insurance against loss of or damage to:

Ocean marine insurance means insurance against loss of or damage to: 929 (a) ships or hulls of ships;

Ocean marine insurance means marine insurance as defined in R.S. 22:47(13), except for inland marine, as well as any other form of insurance, regardless of the name, label, or marketing designation of the insurance policy, which insures against maritime perils or risks and other related perils or risks, which are usually insured against by traditional marine insurances such as hull and machinery, marine builders' risks, and marine protection and indemnity. Such perils and risks insured against include without limitation loss, damage, or expense or legal liability of the insured for loss, damage, or expense arising out of or incident to ownership, operation, chartering, maintenance, use, repair, or construction of any vessel, craft, or instrumentality in use in ocean or inland waterways, including liability of the insured for personal injury, illness, or death or for loss of or damage to the property of the insured or another person, except this definition shall not include insurance on vessels under five tons gross weight. Ocean marine insurance as defined in this Section is subject to R.S. 22:1269.

Examples of Ocean marine insurance in a sentence

• Ocean marine insurance is excluded, as is a failing insurer where there is not a feasible alternative to improving its financial condition and the public will benefit more from the improvement in condition than it will lose from a possible reduction in competition.

• Ocean marine insurance covers the perils of the sea whereas inland marine insurance is related to the inland risks on the land.Marine insurance is one of the oldest forms of insurance.

• Ocean marine insurance is typically purchased to cover risk exposures of shipowners (cargo and hull), marinas, wharves, ports, offshore oil and gas exploration and production firms, and onshore warehouse and retail establishments.

• Ocean marine insurance is written on hulls, freights, sea-going vessels, and goods and wares transported on the seas.

• Ocean marine insurance or ocean marine coverage under an insurance policy including claims arising from the following: the Jones Act (46 U.S.C.Secs.

• Ocean marine insurance or ocean marine coverage under any insurance policy including claims arising from the following: the Jones Act (46 U.S.C.A. Sec.

• Ocean marine insurance or ocean marine coverage under an insurance policy including claims arising from the following: the Jones Act (46 U.S.C. Secs.

• Ocean marine insurance" includes marine insurance as defined in Section 103, except for inland marine insurance, as well as any other form of insurance, regardless of the name, label, or marketing designation of the insurance policy, that insures against maritime perils or risks and other related perils or risks, that are usually insured against by traditional marine insurance such as hull and machinery, marine builders' risks, and marine protection and indemnity.

• Ocean marine insurance as defined in this Section is subject to R.S. 7 22:1269.

• Ocean marine insurance also covers vessels and Cargo on inland waterways as well as drilling rigs and other thing used for exploration.3.2 Marine Insurance Act In South Africa, the rules controlling insurance have always been codified in the prevailing Insurance Act.

More Definitions of Ocean marine insurance

Ocean marine insurance means any form of insurance, regardless of the name,

Ocean marine insurance means marine insurance as defined in

Ocean marine insurance means insurance against loss of or damage to: 1123 (a) ships or hulls of ships; 1124 (b) goods, freight, cargoes, merchandise, effects, disbursements, profits, money, 1125 securities, choses in action, evidences of debt, valuable papers, bottomry, respondentia 1126 interests, or other cargoes in or awaiting transit over the oceans or inland waterways; 1127 (c) earnings such as freight, passage money, commissions, or profits derived from 1128 transporting goods or people upon or across the oceans or inland waterways; or 1129 (d) a vessel owner or operator as a result of liability to employees, passengers, bailors, 1130 owners of other vessels, owners of fixed objects, customs or other authorities, or other persons 1131 in connection with maritime activity. 1132 (131) "Order" means an order of the commissioner. 1133 (132) "ORSA guidance manual" means the current version of the Own Risk and 1134 Solvency Assessment Guidance Manual developed and adopted by the National Association of 1135 Insurance Commissioners and as amended from time to time. 1136 (133) "ORSA summary report" means a confidential high-level summary of an insurer 1137 or insurance group's own risk and solvency assessment. 1138 (134) "Outline of coverage" means a summary that explains an accident and health 1139 insurance policy. 1140 (135) "Own risk and solvency assessment" means an insurer or insurance group's 1141 confidential internal assessment: 1142 (a) (i) of each material and relevant risk associated with the insurer or insurance group; 1143 (ii) of the insurer or insurance group's current business plan to support each risk 1144 described in Subsection (135)(a)(i); and 1145 (iii) of the sufficiency of capital resources to support each risk described in Subsection 1146 (135)(a)(i); and 1147 (b) that is appropriate to the nature, scale, and complexity of an insurer or insurance 1148 group. 1149 (136) "Participating" means a plan of insurance under which the insured is entitled to

Ocean marine insurance means insurance against loss of or damage to: 2383 (a) ships or hulls of ships; 2384 (b) goods, freight, cargoes, merchandise, effects, disbursements, profits, money, 2385 securities, choses in action, evidences of debt, valuable papers, bottomry, respondentia 2386 interests, or other cargoes in or awaiting transit over the oceans or inland waterways; 2387 (c) earnings such as freight, passage money, commissions, or profits derived from 2388 transporting goods or people upon or across the oceans or inland waterways; or 2389 (d) a vessel owner or operator as a result of liability to employees, passengers, bailors, 2390 owners of other vessels, owners of fixed objects, customs or other authorities, or other persons 2391 in connection with maritime activity. 2392 (118) "Order" means an order of the commissioner. 2393 (119) "Outline of coverage" means a summary that explains an accident and health 2394 insurance policy. 2395 (120) "Participating" means a plan of insurance under which the insured is entitled to 2396 receive a dividend representing a share of the surplus of the insurer. 2397 (121) "Participation," as used in a health benefit plan, means a requirement relating to 2398 the minimum percentage of eligible employees that must be enrolled in relation to the total 2399 number of eligible employees of an employer reduced by each eligible employee who 2400 voluntarily declines coverage under the plan because the employee: 2401 (a) has other group health care insurance coverage; or 2402 (b) receives: 2403 (i) Medicare, under the Health Insurance for the Aged Act, Title XVIII of the Social 2404 Security Amendments of 1965; or 2405 (ii) another government health benefit. 2406 (122) "Person" includes: 2407 (a) an individual; 2408 (b) a partnership; 2409 (c) a corporation;