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Warranty


An undertaking in which the Assured promises to comply with certain conditions.

Non-compliance constitutes a breach of warranty and the insurance company is discharged from liability from the date of the breach.

Expressed Warranty - An agreement written in the policy that the Assured must strictly and literally comply with. A violation thereof voids the insurance; e.g. trading warranties.

Implied Warranty - Fundamental conditions implied in a contract of marine insurance:

  1. Seaworthiness of the vessel

  2. Legality of the adventure.
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