A collision clause between ships is a clause in an insurance policy that states that both ship owners must share liability for a collision between ships if the wreck was due to negligence.
Marine insurance covers actions such as ship sinking or collisions, but does not cover wear and tear or war.
The Hague-Visby Rules state that if the carrier has exercised due diligence to ensure the seaworthiness of the vessel, he shall not be liable for claims arising from a collision caused in part or in whole by negligent navigation management.
The collision clause in which both are at fault is intended to preserve the protection that the carrier has under the Hague-Visby Rules by providing contractual damages against the interests of the cargo.
Performance Based Management (ABM) is a means of analyzing a company’s profitability by looking at every aspect of its business to determine its strengths and weaknesses.
ASO-based self-financing plans are common among large firms because they can spread the risk of costly claims over a large number of employees and dependents.
Comprehensive loss insurance is designed to protect an employer that is self-funding its employee health plan from higher-than-expected claims payments.
Share capital is the number of ordinary and preferred shares that the company has the right to issue and which are accounted for on the balance sheet as part of share capital.
Carriage and insurance paid until when the seller pays the freight and insurance to deliver the goods to the party appointed by the seller at the agreed place.
The cost of capital represents the return that a company must earn to justify the cost of a capital project such as buying new equipment or constructing a new building.
A decision support system (DSS) is a computerized system that collects and analyzes data, synthesizing them to create comprehensive information reports.