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ASSIGNMENT OF POLICY - MEANING - INSURANCE
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ASSIGNMENT OF POLICY – MEANING

ASSIGNMENT OF POLICY

A marine policy is assignable by endorsement, or in any other customary manner. The assignee can sue on it in his own name subject to any defense which would have been available against the person who elected the policy. The assignment may be made either before or alter the loss, but an assured who has parted with or lost his interest in the subject-matter insured cannot assign.

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