E. Rules of Practice of the Association of Average Adjusters...... 1523 1463 APPENDIX A. 19 GEO. 2, c. 37. An Act to regulate Insurance on Ships belonging to the Subjects of Great Britain, and on Merchandizes or Effects laden thereon. WHEREAS it hath been found by experience, that the making Preamble assurances, interest or no interest, or without further proof of interest than the policy, hath been productive of many pernicious practices, whereby great numbers of ships, with their cargoes, have either been fraudulently lost and destroyed, or taken by the enemy, in time of war; and such assurances have encouraged the exportation of wool, and the carrying on many other prohibited and clandestine trades, which by means of such assurances have been concealed, and the parties concerned secured from loss, as well to the diminution of the publick revenue, as to the great detriment of fair traders; and by introducing a mischievous kind of gaming or wagering, under the pretence of assuring the risque on shipping, and fair trade, the institution and laudable design of making assurances, hath been perverted; and that which was intended for the encouragement of trade and navigation, has, in many instances, become hurtful of, and destructive to the same: for remedy whereof be it enacted that no assurance Appendix A. or assurances shall be made by any person or persons, bodies No assurance corporate or politick, on any ship or ships belonging to his to be made on Majesty or any of his subjects, or on any goods, merchandizes ships or effects, &c., interest or no interest; Except on of war; or effects laden or to be laden on board of any such ship or ships, interest or no interest, or without further proof of interest than the policy, or by way of gaming or wagering, or without benefit of salvage to the assurer; and that every such assurance shall be null and void to all intents and purposes. 2. Provided always, that assurance on private ships of war, private ships fitted out by any of his Majesty's subjects solely to cruise against His Majesty's enemies, may be made by or for the owners thereof, interest or no interest, free of average, and without benefit of salvage to the assurer; anything herein contained to the contrary thereof in anywise notwithstanding. and on effects from Spain or Portugal. Prohibition of re-insurances except in cases of insolvency, bankruptcy, or death. Conditions for lending sums on bottomry upon ships bound for the East Indies. plaintiff to 3. Provided also, that any merchandizes or effects from any ports or places in Europe or America, in the possession of the crowns of Spain or Portugal, may be assured in such way and manner, as if this Act had not been made. 4. [This section was repealed by 27 & 28 Vict. c. 56, § 1, which expressly legalises re-insurances. The repealing enactment being itself repealed by 30 Vict. c. 23, Schedule D., and also by 30 & 31 Vict. c. 59, re-insurances are thereby left as at Common Law, and therefore legal.] 5. [Repealed by Stat. Law Rev. Act, 1867.] 6. In all actions or suits brought or commenced after the said first day of August, by the assured, upon any policy of assurance, In all actions the plaintiff in such action or suit, or his attorney or agent, declare within shall, within fifteen days after he or they shall be required so to fifteen days what sums he do in writing, by the defendant, or his attorney or agent, declare hath assured. in writing what sum or sums he hath assured, or caused to be Payment assured in the whole, and what sums he hath borrowed at respondentia or bottomree, for the voyage, or any part of the voyage in question, in such suit or action. 7. [Repealed by Stat. Law Rev. Act, 1883.] Appendix A. 28 GEO. 3, c. 56. An Act to repeal an Act, made in the Twenty-fifth Year of the Reign of his present Majesty, intituled, "An Act for regulating Insurances on Ships, and on Goods, Merchandizes, or Effects:" and for substituting other Provisions for the like purpose, in lieu thereof. Whereas it hath been found, by experience, that great mis- Preamble. chiefs and inconveniences have arisen to persons interested in ships or vessels, and also to persons using trade or commerce, from the effect of an Act made in the twenty-fifth year of the repealed; and no policy to be made on any ship, &c., without in serting thereon the name or names or the firm of reign of his present Majesty, intituled, "An Act for regulating 25 Geo. 3, Insurances on Ships, and on Goods, Merchandizes, or Effects:" c. 44, recited. And whereas it is highly expedient that other and more convenient provisions should be made for the regulating insurances hereafter to be made on ships, and on goods, merchandizes, or effects, than those which are contained and enacted in and by the said Act; be it therefore enacted that the said Act is hereby Recited Act repealed; and that, from and after the passing of this Act, it shall not be lawful for any person or persons to make or effect, or cause to be made or effected, any policy or policies of assurance upon any ship or ships, vessel or vessels, or upon any goods, merchandizes, effects, or other property whatsoever, without first inserting, or causing to be inserted, in such policy or policies of assurance, the name or names, or the usual stile and firm of dealing of dealing of one or more of the persons interested in such assur- of the persons ance; or without, instead thereof, first inserting, or causing to interested, &c. be inserted in such policy or policies of assurance, the name or names or the usual stile and firm of dealing of the consignor or consignors, consignee or consignees of the goods, merchandizes, effects, or property so to be insured; or the name or names, or the usual stile and firm of dealing of the person or persons residing in Great Britain, who shall receive the order for and effect such policy or policies of assurance, or of the person or persons who shall give the order or direction to the agent or agents immediately employed to negotiate or effect such policy or policies of assurance. one or more 2. Every policy and policies of assurance, made or underwrote Policies made contrary to the true intent and meaning of this Act, shall be null contrary to and void to all intents and purposes whatsoever. this Act to be void. Appendix A. Assignees names. Assignment by endorsement. Interpreta tion of terms. Short title. 31 & 32 VICT. c. 86. An Act to enable Assignees of Marine Policies to sue thereon Whereas it is expedient that the assignees of marine policies of insurance should be enabled to sue thereon in their own names: Be it enacted as follows: 1. Whenever a policy of insurance on any ship, or on any goods in any ship, or on any freight, has been assigned, so as to pass the beneficial interest in such policy to any person entitled to the property thereby insured, the assignee of such policy shall be entitled to sue thereon in his own name; and the defendant in any action shall be entitled to make any defence which he would have been entitled to make if the said action had been brought in the name of the person by whom or for whose account the policy sued upon was effected. 2. It shall be lawful to make any assignment of a policy of insurance by endorsement on the policy in the words or to the effect set forth in the schedule hereto. 3. For the purposes and in the construction of this Act, the term "policy of insurance" or "policy" shall mean any instrument by which the payment of money is assured or secured on the happening of any of the contingencies named or contemplated in the instrument of assurance known as "Lloyd's Policy," or in any other form adopted for insuring ships, freights, and goods carried by sea. 4. This Act may be cited for all purposes as the "Policies of Marine Assurance Act, 1868." SCHEDULE. FORM OF ASSIGNMENT. I, A. B. of, &c., do hereby assign unto C. D., &c., his executors, administrators, and assigns, the within policy of assurance on the ship, freight, and the goods therein carried [or on ship or freight or goods, as the case may be]. In witness whereof, &c. Appendix A. XXXIV. VICT. C. XXI. An Act for incorporating the members of the Establishment or 19. The rules set forth in the schedule to this Act shall be the Fundamental fundamental rules of the society. rules in schedule. THE SCHEDULE. THE FUNDAMENTAL RULES OF THE SOCIETY. 1. There shall be underwriting members and non-underwriting members. 2. A non-underwriting member shall not underwrite in his own name at Lloyd's, or empower another person to underwrite for him at Lloyd's. 3. All underwriting business transacted at Lloyd's shall be conducted in the underwriting rooms, and not elsewhere. 4. An underwriting member shall not, by himself or by any partner or other substitute, directly or indirectly underwrite in the city of London a policy of insurance, as follows:(1) In the name of a partnership, or otherwise than in the name of one individual (being an underwriting member of the society) for each separate sum subscribed; or, (2) For the account, benefit, or advantage of any company or association, unless they are subscribers to the society, nor unless every policy underwritten for their account, benefit, or advantage is underwritten in their ordinary place of business. 5. A member shall not open an insurance account in the name of any person not being a member or subscriber. |