Marine Losses

 Q.What do you understand by marine losses? Describe the different types of marine losses. 

Answer:- Meaning of Marine Losses 

Marine losses  is made up of two words: Mariane + Losses. 

Mariane means related to sea, and Losses means losses. 

Marine losses refer to such losses that occur during a sea voyage. 

for example, loss of a ship or goods - 

Classification of Marine Losses 

यहां आधा पेज चार्ट के लिए छोड़ना है।

1.Total Loss - When the goods are completely destroyed, it is called total loss.

For exp:- The goods are completely destroyed by fire. 

Total loss is of the following two types. 

1. Actual Total Loss - When the goods and the ship are completely destroyed, it is called actual total loss. 

For exp:- The ship sinks in the sea. 

2. Constructive Total Loss - When the goods and the ship are completely destroyed and the cost of saving is more than the value of the goods and the ship, then in that situation, the person who has taken the insurance does not try to save them and this type of loss is called constructive total loss. 

For exp:- If goods worth ₹200,000 fall from a ship into the sea and the cost of retrieving those goods is ₹250,000, then in that situation, the insurance company considers it appropriate to compensate for ₹200,000 instead of giving ₹250,000. 

Abandonment notice 

If a person who has taken out insurance wants to claim a constructive total loss, they must give notice of it to the insurance company. Now, the insurance company can either accept or reject this notice. 

If the insurance company accepts the notice, it will compensate for the constructive total loss. And if the insurance company rejects the notice, the person who has taken out the insurance can go in the court. 

2.Partial loss :-When the goods and the ship are not completely destroyed, it is called a partial loss. 

For example: A machine on the ship getting damaged, or a hole in the ship. 

Partial loss is of the following types: 

1.Particular average loss :-Particular average loss refers to a type of average loss that is not a general average loss. 

For example: A machine on the ship getting damaged, seawater entering the ship due to sea waves, and some sacks of sugar getting damaged. 

Method of claiming in particular average loss 

The following documents have to be presented to claim for particular average loss: 

(a) Insurance Policy 

(b) Invoice 

(c) Bill of Landing 

(d) Letter of subrogation 

2.General average loss:-General average loss is known as the expenses that have to be incurred to save the ship when it gets into some kind of sea trouble. 

For example, a ship is in the middle of the sea, and a hole appears in it, and water starts filling in slowly. In that condition, the captain of the ship estimates that if the cargo is not thrown out of the ship, the ship will sink. 

Method of claiming in general average loss 

The following documents have to be presented to claim for general average loss: 

(a) Insurance Policy 

(b) Invoice 

(C) Bise of landing. 

3.Special charges: If a ship gets into some trouble, then in that situation, it is the captain's duty to try to rescue it from the trouble. And the expenses incurred by the captain of the ship to rescue the ship from the trouble are called special expenses/special charges. 

4.Salvage charges: Salvage charges are also known as salvage and rescue expenses. If a ship gets into trouble, then in that situation, it is the captain's duty to try to rescue it from the trouble. But if someone other than the captain tries to rescue the ship from the trouble and he succeeds in his attempt, then in that situation, a reward is given to him by the insurance company, which is known as salvage charges.