M.B.A.(B DEGREE EXAMINATION, APRIL 2016
Fourth Semester
MARINE INSURANCE
(2012 onwards)
Time 3 Hours Maximum 75 Marks
Part A 3 15)
Answer all questions.
1. Define insurance.
2. What is inland vessel?
3. What is the main objective of International Union of
Marine Insurers?
4. What do you mean by salvage charges?
5. What is claim?
Part B 10 50)
Answer all questions, choosing either or
All questions carry equal marks.
6. Explain different types insurance policies to cargo.
Or
Describe salient features of a contract of marine
insurance.
7. What are the subject matters which are insured
by marine insurance?
Or
Describe the types of policies to cover ship owner's
insurable interest.
Sub. Code
632402
RW-10764
2
Wk 9
8. Explain various types of marine losses.
Or
Explain the scope and policy terms and conditions
for cargo insurance.
9. Explain the following terms
Particular average loss
General average loss and
Constructive total losses.
Or
Discuss about settlement of claims in respect of
Hull, Freight and Salvage charges.
10. Describe the scope of insurance surveyors.
Or
Explain subdivisions of hull insurance.
Part C 10 10)
Compulsory
11. Read the following case and answer the given question.
P held, as indorsee, a bill of lading for groundnuts
shipped from Mumbai to London. During the voyage, the
ship deviated and called at a port not lying on the
prescribed route, resumed the prescribed route and
collided with another vessel that was being navigated
negligibly. In consequence of the collision, a quarter of
the groundnuts was lost. The vessel proceeded on her
voyage and was sunk by an enemy submarine near
London.
Discuss Can P recover his loss from the ship-owner?