A small coastal vessel needs repairs following a loss caused by an insured peril. The owner...

 

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A small coastal vessel needs repairs following a loss caused by an insured peril. The owner of the vessel wants repairs to be carried out by a local repair yard owned by his brother. The insurers believe the vessel can be repaired more cheaply elsewhere. Explain with examples the provisions of the Institute Time Clauses - Hulls 1/10/83 giving insurers the right to take control of the claim. A small coastal vessel needs repairs following a loss caused by an insured peril. The owner of the vessel wants repairs to be carried out by a local repair yard owned by his brother. The insurers believe the vessel can be repaired more cheaply elsewhere. Explain with examples the provisions of the Institute Time Clauses - Hulls 1/10/83 giving insurers the right to take control of the claim.

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The Institute Time Clauses Hulls 11083 is a standard marine insurance policy that provides coverage ... View the full answer