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What is the cost of the German special line to China?

Date: 2017-04-05
Views: 43

The calculation of the apportioned amount of each beneficiary of the German dedicated line has two steps. First calculate a common average loss rate. This should be calculated by dividing the total amount of common average loss by the total amount of common average loss. Then, by multiplying the shared value of each beneficiary by the common average loss rate, the common average loss should be shared by each beneficiary. 、; Xi individual average loss (particular average) means that the insurance subject does not reach the full loss after the damage, and only the interests of a single party are damaged. Such loss of the German special line is borne solely by the owner of the insurance subject. The conditions that constitute a single gross loss include: the loss of the subject-matter insured; the loss caused by accident, accident or other underwriting hazard; and the loss suffered unilaterally by the ship, cargo or other interests. In the insurance practice, different insurance clauses have different provisions for individual marine damage compensation, and there are mainly the following ways. (1) There is absolutely no compensation for individual gross damage. This kind of regulation is common in marine ship insurance contracts, that is, the ship's total loss insurance clause. (2) Except for the individual average damage caused by certain specific hazards, no compensation shall be made for the individual average damage. For example, the 'Ping An Insurance' clause in the People ’s Insurance Company of China (PICC) marine cargo transportation insurance clause and the provisions of the ICC (C) of the London Insurance Association of the United Kingdom belong to this situation. German line

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