Hanover Fire Ins. of New York v. Merchants' Transp. Co.

RUDKIN, Circuit Judge.

This was an action on a protection and indemnity poliey of insurance. The policy was issued November 21, 1923, by the Hanover Fire Insurance Company of New York, in favor of the Merchants’ Transportation Company, and covered a fleet of four vessels, of which the T. W. Lake was one. The policy ran for a term of one year from date, and provided indemnity, among other things, for loss of life which the insured should become liable to pay and did pay during the term. . The amount of the insurance or indemnity as to the Lake was limited to $13,500, but it was provided that,…