Question

Which of the following losses would NOT be covered under the hull coverage of an Ocean Marine policy?

Option 1: Collision with Another Ship
Option 2: Sinking due to Storm Damage
Option 3: Engine Failure
Option 4: Theft of Ship's Cargo

Answer 1

Engine Failure is not covered under hull coverage of an Ocean Marine policy because it is a mechanical issue, unlike collision, sinking and theft, which are perils of the sea.

Step-by-step explanation:

The loss not covered under the hull coverage of an Ocean Marine policy is Option 3: Engine Failure.

Hull coverage typically insures against physical damage to the ship itself due to perils like collision, sinking, and theft. However, engine failure is a mechanical issue and is not caused by a peril of the sea; therefore, it is usually excluded from hull coverage. In contrast, Option 1: Collision with Another Ship, Option 2: Sinking due to Storm Damage, and Option 4: Theft of Ship's Cargo are events that are typically covered because they directly involve the risks associated with marine voyages, such as those seen during the tragic historical events involving the slave ship Zong and the implications surrounding the loss of the ship with the initials L.S.