Ship deemed to be missing when, after extensive enquiries, it is officially posted as ‘missing’ at Lloyd’s. It is then considered an ‘actual total loss’ and both hull and cargo claims are settled accordingly. During peacetime the cause of loss is deemed to be an insured peril but war peril during wartime.
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A ship that has been posted at Lloyd’s as ‘missing’, because, despite an enquiries, she cannot be traced. A missing ship is deemed to be an actual total loss.