单词 | policy proof of interest |
释义 | > as lemmaspolicy proof of interest policy proof of interest: (in marine insurance) used in a policy to indicate that the underwriters agree to waive the legal requirement that the assured must prove an insurable interest in a ship or its cargo before a claim is paid, and that possession of the policy itself will be regarded as sufficient proof of such an interest; abbreviated ppi (see ppi n. at P n. Initialisms); cf. honour policy n. at honour n. Compounds 1c.In the United Kingdom, the Marine Insurance (Gambling Policies) Act (1909) makes it an offence to enter into a marine insurance policy without having an insurable interest in the ship or its cargo, although such policies were not officially banned by Lloyd’s of London until June 1981. ΚΠ 1806 J. Kent in G. Caines N.Y. Term Rep. 3 144 This must be considered in the light of a wager policy. The words ‘Policy to be proof of interest’ are not considered as being of themselves evidence of a wager-policy.] 1848 J. I. Clark Hare & H. B. Wallace Select Decisions Amer. Courts II. Index 576/2 ‘Interest or no interest’, ‘carried or not carried’, ‘policy proof of interest’. 1855 J. Duer Rep. Cases Superior Court City of N.Y. 2 205 The policy also provided and declared ‘that the said freights, hereby insured, are valued at $10,000, carried or not carried, earned or not earned; policy proof of interest’. 1908 Standard (London) 16 Dec. 7/3 Measures..to prevent marine insurance policies of the ‘P.P.I.’ (policy proof of interest) class from being taken out by people who have no interest in the ships concerned beyond a desire to gamble in the risk of a ship being lost. 1922 Times of India 26 June 12/3 Another case in which policy proof of interest insurances were concerned has been before the Courts. 2008 Jrnl. Maritime Law & Commerce 39 94 It would not be wise to abolish ‘policy proof of interest’ policies, for they are very popular and continue to be effected. < as lemmas |
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