A Study on the Insurer's Excluded Risks in Cargo Insurance

積荷保險에 있어서 保險者의 免責危險에 관한 硏究

The marine cargo insurance compensates the cargo losses that happened during navigation . at the early days of the marine insurance, the insurer inclusively covered all risks that happended during navigation. But since the feature of the risks have been changed due to the development of the shipbuilding technique and commerce, the insurer could not bear all of the perils inclusively. So, the insurer have taken the limitation of the risks insured and the losses paid by exclusion clauses. Therefore, the purpose ;of this paper is to compare the exclusion clauses in the new Institute Cargo Clause (hereafter I.C.C.) with those in the former I.C.C.(all risks, F.P.A) and to make clear the scope of insurer's liability through the theoretical interpretation, clarification of various excluded risks in laws and clauses relating to marine cargo insurance. From what 1 mentioned above, 1 conclude that through continued study on the exclusion sin the new I.C.C., we should organize and establish a system which will satisfy both underwriters and the assured in making the application and the effectiveness equal for each party.