Northland Navigation Co. v. American Merchant Marine Insurance

Dowling, J.:

This action was brought to recover the sum of $45,000, with interest, on a valued policy of marine insurance issued by defendant to plaintiff covering losses on the steamship Mohegan, as noted below. This policy dated June 27, 1919, contained the following provisions among others:

“On disbursements and/or salvage or other charges and/or liabilities in respect of general average valued at $45,000.

“ Free from all average but to pay the deficiency arising from loss, damage, salvage, and charges caused by perils insured against such deficiency being the difference between the net value…