Implied Conditions

insurance

Certain implied conditions are not written into marine insurance policies, but they are so basic to the understanding between underwriter and assured that the law gives them much the same effect as if written.

Thus, it is implied:

  1. that the assured will exercise the utmost good faith in disclosing to his underwriter all facts material to the risk when applying for insurance;
  2. that the generally established usages of trade applicable to the insured subject matter are followed;
  3. that the assured shall not contribute to loss through willful fault or negligence.

See special marine policy.

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