Contents Close
You are currently not signed in. Any products you have purchased will not be available until you Sign In.
For a personalized walk-through of IRMI Online, Request a Demo.

new for old

A historic provision in marine insurance contracts stipulating that when repairs are made and new parts are supplied in place of old ones that have been lost or damaged, there is an agreed discount for depreciation. Modern marine policies, however, generally provide for the repairs without a deduction for depreciation.


Social Media

User ID: Subscriber Status:Free