Here is the synopsis of our sample research paper on MARINE INSURANCE CONTRACTS, SLIPS AND LLOYD'S OF LONDON. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 12-page paper discusses marine insurance policies and contracts. Also in this paper is an overview of Lloyd's of London, it's slip process, and the role the slip plays in the insurance contracts and policies. Bibliography lists 6 sources.
Page Count:
12 pages (~225 words per page)
File: D0_MTmarislip.rtf
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Unformatted sample text from the term paper:
(or go online), decide what coverage they want and how much, and agree, in principal, to the contract. And for basic homeowners or car insurance, this works fine.
But in the marine world, things work a little differently. Marine voyages carry a great deal more risk than do car trips (or homes
that just sit on a foundation). So much so, that marine insurance isnt offered through just any company. Nor can a person simply pick up the phone or go online
to find any. Rather, marine insurance is offered through specialty insurers such as Lloyds of London, which has carved out a large reputation for itself as THE insurance market to
tap into when it comes to difficult-to-insure things, such as sea voyages. As Lloyds of London isnt your average insurance broker or
insurance company, its operations arent average either. Lloyds relies on a centuries-old process to accept applications for insurance, and to find underwriting to cover the policy. Through the slip process,
Lloyds brokers gather underwriters and syndicates that may be interested in taking on risk of a particular sea voyage, its cargo, and its ship. If the ship runs into problems
along the way, the underwriters could be in trouble. But if the ship makes it through the voyage unscathed, then the underwriters have made a wise investment and are several
times more wealthy than they might have been when first entering the venture. In this paper, well examine the concept of marine
insurance (and its purpose), focus on Lloyds as a company, and discuss, in great detail, the slip process for pulling together a policy. By the end of this paper, well
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