INSURANCE. 
interest in the thing insured, is an insurable 
interest. 
Wager policy. This is usually conceived 
in the terms, interest or no interest, or, 
without further proof of interest than the 
policy, to preclude all inquiry into the in- 
terest of the insured, and as a consequence 
of the insured’s having no interest in the 
pretended subject of the policy, it follows, 
that the insurer cannot be liable for any 
partial loss. 
Insurance Re. A policy of insurance 
being once signed, the underwriters are 
bound by the terms of it, nor can they be 
released from their contract without the 
consent of the insured. But an underwri- 
ter may shift it, or part of it from himself to 
other insurers, by causing a re insurance to 
be made on the same risk, and the new 
insurers will be responsible to him in case 
of loss, to the amount of the re-insurance. 
But the re insurer is only responsible to the 
original insurer, and not to the original 
insured. Thus stands the law on this sub- 
ject in most of the states of Europe ; but in 
England, by the 19 George II. c. 57, re- 
insurances are prohibited, except in case of 
the insolvency or death of the original 
insurer. This has been held to extend not 
only to British, but also to foreign ships. 
Insurance, double, is where the insured 
make two insurances on the same risk and 
the same interest. A double insurance, 
though it be made with a view to a double 
satisfaction in case of loss, and is therefore 
in the nature of a wager, is not void. The 
two policies are considered as making but 
one insurance, and are good to the extent 
of the value of the effects put in risk. All 
the underwriters in this case contribute in 
proportion to their several subscriptions; 
and therefore, if the insured should sue only 
on one of the policies, the under-writers 
on that policy may recover a ratable con- 
tribution from those on the other. 
Of the voyage. No insurance can be le- 
gally made upon any voyage undertaken 
contrary to the laws of this kingdom, or to 
those of its dependencies, or to the law of 
nations, and it is immaterial whether the 
insurer was or was not informed that the 
voyage was illegal. An insurance, there- 
fore, upon a voyage undertaken contrary to 
the navigation law, is void. 
Insurances, risks against which may be 
made. Insurances may be made against all 
the risks or perils which are incident to sea 
voyages, subject, however, to certain ex- 
ceptions founded in public policy and the 
interests of humanity, which require, that 
in certain cases men shall not be permitted 
to protect themselves against some particu- 
lar perils of insurance. But an insurer 
cannot make himself answerable for a loss, 
proceeding from the fault of the insured. 
No insurance can be made, even against 
the perils of the sea, upon illegal commerce. 
In order to confine insurances against real 
and important losses arising from the perils 
of the sea, and to obviate disputes respect- 
ing losses from the perishable quality of the 
goods insured, and all trivial subjects of 
litigation, it appears to be the general law 
of all states, that the insurer shall not be 
liable for any average loss, unless it exceed 
one per cent, beside which a clause has 
been introduced into poficies, that the 
insurer shall not be liable for any partial 
loss under a given rate per cent. In Eng- 
land it is now constantly stipulated in all 
policies, that upon certain enumerated arti- 
cles the insurer shall not be answerable for 
any partial loss whatever ; that upon certain 
others, liable to partial injuries, but less diffi- 
cult to be preserved at sea, he shall only be < 
liable for partial losses above three per cent. 
But this does not extend to the losses, 
however small, called general average, and 
losses occasioned by the stranding of the 
ship, and the loss by stranding must be an 
immediate loss. 
Commencement and continuance of the risk. 
In England the commencement of the risk 
of the ship varies in almost every case. In 
outward-bound voyages, it is generally 
made to commence from her beginning to 
load at her port of departure. Sometimes 
privateers on a cruise, ships engaged in the 
coasting trade, or in short voyages, are in- 
sured for a limited period of time ; and in 
such case the risk commences and ends 
with the term, wherever the ship may then 
happen to be. If a ship is insured from 
the port of London to any other port, and 
before she breaks ground an accident hap- 
pens to her, the insurers are not answer- 
able, for the risk does not commence till 
she sets sail on her departure from the port 
of London. But if the insurance be allow- 
ed, and from the port of London, the insur- 
ers are liable to any accident that may hap- 
pen to her from the time of subscribing the 
policy. When a ship, expected to arrive 
at a certain place abroad, is insured at and 
from that place, or from her arrival there ; 
the risk begins from the first moment of her 
arrival at the place specified, and the words 
first arrival are implied, and always under- 
