保险学Treisch12Ch10.ppt

Risk Management and Commercial Property–Part IIChapter 10 Chapter Objectives Identify the perils of transportation and the carrier’s liability on the land and on the sea List the major types of property insurance available for ocean and inland marine loss exposures Describe expressed and implied warranties as they’re used in ocean marine insurance Explain how floater insurance policies help meet the insurance needs of businesses whose properties move from one location to another Explain the need for and use of title insurance Explain the difference between insurance and bonding Identify the differences among burglary, robbery, and theft Introduction Various types of policies are used to insure personal property including Transportation policies that include ships and their cargo As well as personal property carried by trains and trucks Such policies include coverages for items that may be transported by land, air, or sea Floaters that concern property that will be or is capable of being moved from one place to another Several miscellaneous coverages Credit, title, and glass insurance Transportation Insurance One of the oldest and most vital forms of insurance All types of trade depend heavily on the availability of insurance for successful and expedient handling Insurance played a vital part in stimulating early commerce In Roman times bottomry contracts and respondentia contracts covering the terms under which money was borrowed to finance ocean commerce The lender of money took as security for loan either the ship itself (bottomry), or the cargo (respondentia) However, if the ship or cargo was lost as a result of ocean perils, the loan was canceled If the voyage was successful, the loan was repaid and substantial interest was charged Mainly because the interest included an allowance for the possibility of loss of the security Essentially an insurance premium The Perils of Transportation There is an inability to control adequately or compl