Question
Q1: Smith, Jones, and Brown each own 1/3 of the cargo hauled on a ship. There is a problem with the ship and in order
Q1: Smith, Jones, and Brown each own 1/3 of the cargo hauled on a ship. There is a problem with the ship and in order to address the imminent danger of the ship sinking, the captain decides to jettison Browns cargo. As a result of this effort, the ship makes it to port and the remaining cargo is saved. How will the loss be covered under general average losses?
Question 4 options:
| Browns Joness and Smiths insurance will each cover 1/3 of the lost cargo. | ||||||||
| Joness and Smiths insurance will cover of the lost cargo. | ||||||||
| Since the cargo was jettisoned on purpose, the insurance carriers will not pay the loss. | ||||||||
| Browns insurance will cover all of his lost cargo. ---------------------- Q2:All of the true regarding ocean marine insurance EXCEPT Question 2 options:
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