The policy itself in all these cases is precisely similar with the exceptions just mentioned. The form usually adopted by underwriters in London, Liverpool, Dublin, Glasgow, &c., is the form sanctioned by "Lloyd's," and is as follows: :

En the name of God. Amen.

as well in

own Name, as for and in the Name and Names of all and every other Person or Persons to whom the same doth, may, or shall appertain, in Part or in All, doth make Assurance, and cause

and them, and every of them, to be insured, lost or not lost, at and from

Upon any kind of Goods and Merchandises, and also upon the Body, Tackle, Apparel, Ordnance, Munition, Artillery, Boat, and other Furniture, of and in the good Ship or Vessel, called the whereof is Master,

under God, for this present Voyage,

or whosoever else shall go for Master in the said Ship, or by whatsoever other Name or Names the said Ship, or the Master thereof, is or shall be named or called; beginning the Adventure upon the said Goods and Merchandises, from the Loading thereof aboard the said Ship

upon the said Ship, &c.

and so shall continue and

endure, during her abode there, upon the said Ship, &c. And further, until the said Ship, with all her Ordnance, Tackle, Apparel, &c., and Goods and Merchandises whatsoever, shall be arrived at

upon the said Ship, &c., until she hath moored at Anchor Twentyfour Hours in good Safety; and upon the Goods and Merchandise until the same be there discharged and safely landed. And it shall be lawful for the said Ship, &c., in this Voyage to proceed

and sail to, and touch and stay at, any Port or Places whatsoever,

without Prejudice to this Insurance. The said Ship, &c., Goods and Merchandises, &c., for so much as concerns the Assureds by Agreement between the Assureds and Assurers in this Policy, are and shall be valued at

Touching the Adventures and Perils which we the Assurers are contented to bear, and do take upon us in this Voyage; they are of the Seas, Men of War, Fire, Enemies, Pirates, Rovers, Thieves, Jettizons, Letters of Mart and Countermart, Surprisals, Takings at Sea, Arrests, Restraints, and Detainments of all Kings, Princes, and People, of what Nation, Condition or Quality soever Barratry of the Master and Mariners, and of all other Perils, Losses, and Misfortunes, that have or shall come to the Hurt, Detriment, or Damage of the said Goods, and Merchandises and Ship, &c., or any Part thereof. And in Case of any Loss or Misfortune, it shall be lawful to the Assureds, their Factors, Servants and Agents, to sue, labour, and travel for, in and about the Defence, Safeguard, and Recovery of the said Goods and Merchandises, and Ship, &c., or any Part thereof, without prejudice to this Insurance; to the Charges whereof we the Assurers will contribute, each one according to the Rate and Quantity of his sum herein Assured. And it is agreed by us the Insurers, that this Writing or Policy of Assurance shall be of as much Force and Effect as the surest Writing or Policy of Assurance heretofore made in Lombard Street, or in the Royal Exchange, or elsewhere in London. And so we the Assurers are contented, and do hereby promise and bind ourselves, each one for his own Part, our Heirs, Executors, and Goods to the Assureds, their Executors, Administrators and Assigns, for the true performance of the Premises, confessing ourselves paid the Consideration due unto us for this Assurance, by the Assureds, at and after the Rate of

En Witness whereof, we, the Assurers, have subscribed our Names and Sums Assured in London.

N.B. Corn, Fish, Salt, Fruit, Flour and Seed, are warranted free from Average, unless General, or the Ship be stranded.— Sugar, Tobacco, Hemp, Flax, Hides and Skins, are warranted free from Average, under Five Pounds per Cent. and all other Goods, also the Ship and Freight are warranted free from Average, under Three Pounds per Cent. unless general, or the Ship be stranded.

PRACTICAL OBSERVATIONS.

The following general practical observations on the most important clauses contained in the above Policy should be attentively considered before ordering any insurance, particularly as to the clause providing for the touching or calling at particular places; and also the risks and perils insured against, so that any contemplated deviation or assumed risk may be provided for by the policy.

The policy is divided into the following parts, namely―

1. The name of the insured or his agent.

2. The voyage insured.

3. The subject matter insured.

4. The name of the ship and master.

5. Liberty to touch and stay.

6. The value.

7. The risks warranted.

8. Powers to labour in case of loss.

9. Special warranties.

10. The memorandum.

11. The running down clause.

1. The Name of the Insured or his Agent.

It is absolutely necessary that every policy should contain the name of the person interested in the assurance, and in whose behalf the policy was in fact made. When the policy is effected by an agent whose name is inserted in the policy, such agent must have been duly authorized to effect the insurance by the person interested therein. An agent may, although unauthorized at the time, effect a policy; but he must assume to act for and on behalf of the person interested in the assurance to enable that person to adopt the contract.

In fact, a policy cannot be effected so as to cover a risk which at the date of the policy was never contemplated either with respect to the goods insured or their owner. And a person cannot avail himself of a policy whose interest was neither defined nor contemplated at the time of its being effected.

From the foregoing observations it will be seen how essential it is that there should be maintained that uberrima fides, or honesty of purpose in all contracts of indemnity founded upon marine insurance, since any deviation from its strict principles would to that extent involve a fraud against public policy and the general interests of mankind. Hence it is that valued policies are not allowed as a colourable excuse for wagering. So that if a party overvalue his interest simply for the purpose of defrauding the insurers it will vitiate the

whole policy, and he will not be allowed to recover even for what goods he actually had on board.

2. The Voyage Insured.

The voyage insured, or, if it is a time policy, the places where the ship may go to, touch at, or the limits within which she may trade, as well as the commencement and termination of the risk, must be distinctly stated in the policy. If any mistake is made therein it should be immediately rectified.

3. The Subject Matter Insured.

This must be clearly and distinctly stated. It should appear on the face of the policy whether the insurance is on the ship, cargo, freight, profit or commission, money lent, salvage, &c. and whether the insurer is owner, mortgagee, lender of money on bottomry, respondentia, or otherwise.

Should the policy be an open one, on goods to be thereafter declared, the declaration should be made and forwarded to the broker immediately the goods are shipped. It should contain full particulars of the ships name, the intended voyage, and the description, quantity, number, marks, and value of the goods declared for, so that the broker may have the risk properly endorsed on the policy.

This declaration will convert the policy into a valued one so far as the goods declared for are concerned.