P&I and H&M Insurance for Smart Yachts, Evaluation of the Concept of “Causa Proxima” and the Liability of the Insurer

However, in recent years, the trend in insurance policies has begun to shift from…

“One could say that any liability incurred during the policy period by the [insured] surveyors should be covered. That would have the result that claims might be brought home to roost months or years after the policy had expired. The insurer would have no way of determining within reason when their liability had ended, or what reserves ought to be made after they thought that they had paid all claims. A second method is that adopted in this case of providing that claims made during the year in question are covered by insurance . . . The third method would be to provide that a policy would only cover claims which were actually paid in the years of insurance . . . That would be a disaster, because it would mean that the insured would have to disclose on renewal if a claim was threatened. It does not seem very likely that he would then be able to renew his policy until the time came when the claim was actually paid…

As a result, the above-mentioned points within the scope of the obligation to bear…