A contract of Marine Insurance shall not be submitted in evidence unless it is embodied in a Marine Policy accordance with Marine Insurance Act. The policy may be executed and issued either at the time when the contract is concluded or afterwards. Dictionary Meaning of " POLICY " : A set of ideas or a plan of what to do in particular situations that has been agreed to officially by a group of people, a business organization, a government, or a political party. Before proceeding further, please go through an example below:A Marine Policy must specify the following:Name of the … [Read more...]
Magnetic Compass & Ship Magnetism – Simplified Explanation
The Ship’s Magnetic Compass The principle of the present day magnetic compass is in no way different from that of the compass used by the ancients. It consists of a magnetised needle, or array of needles pivoted so that rotation is in a horizontal plane.The superiority of the present day ship’s compass results from :better knowledge of the laws of magnetism which govern the behaviour of the compass, greater precision in the construction of compass & binnacle including correctors, better means to control damping of the compass needle.A properly adjusted ship’s compass … [Read more...]