Article L172-7 of the French Insurance Code
November 8, 2023
In the absence of fraud, the contract is valid up to the actual value of the insured items and, if approved, for the entire sum insured.
In the absence of fraud, the contract is valid up to the actual value of the insured items and, if approved, for the entire sum insured.
Cumulative insurance policies for a total sum greater than the value of the insured item are void if taken out with intent to defraud.
Cumulative insurances taken out without fraud for a total sum exceeding the value of the insured item are valid only if the insured brings them to the attention of the insurer from whom he is claiming. Each of them produces its effects in proportion to the sum to which it applies, up to the full value of the insured item.
If the sum insured is less than the actual value of the insured items, except in the case of agreed values, the insured remains his own insurer for the difference.
The insurer is liable for material damage caused to insured objects by any fortune of the sea or by an event of force majeure. The insurer is also liable for 1° The contribution of the insured objects to the general average, except if this results from a risk excluded by the insurance; 2° Expenses incurred as a result of a risk covered in order to protect the insured object from…
The “Free of Damage” clause frees the insurer from any damage, whether common or specific, except in cases which give rise to the right to surrender the goods; in these cases, the insured has the option of surrendering the goods or taking action for damage.
The insured risks remain covered, even in the event of fault on the part of the insured or his land agents, unless the insurer establishes that the damage is due to a lack of reasonable care on the part of the insured to protect the objects from the risks that have arisen. The insurer is not liable for intentional or inexcusable fault on the part of the insured.
The risks remain covered under the same conditions in the event of fault on the part of the captain or crew, except as stated in article L. 173-5.
The insured risks remain covered even in the event of a forced change of route, voyage or vessel, or in the event of a change decided by the captain outside the shipowner and the insured.
Unless otherwise agreed, the insurer does not cover damage to or loss of the insured property resulting from: 1° Civil or foreign war, mines and all devices of war; 2° Piracy; 3° Capture, seizure or detention by any government or authority whatsoever; 4° Riots, popular movements, strikes and lock-outs, acts of sabotage or terrorism; 5° Claims due to the direct or indirect effects of an explosion, the release of heat,…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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