An unqualified reference to insurance on goods covers both the beneficial interest of the insured and, if they belong to someone else, the liability of the insured to the owner. It does not cover the owner’s proprietary interest unless the policy names the insured as the commercial trustee and describes the property as belonging to a named third party. (Hepburn v. Tomlinson (Hauliers) Ltd (1966)).

clause Same as an HOURS CLAUSE.

Under the Marine Insurance Act when new material replaces old in ship repairs, the shipowner is required to bear part of the cost of new materials; a deduction of one-third or one-sixth is made from the amount payable. In practice the International Hull Clauses provide that claims are payable without deduction new for old.

The obligation on an insured to prove that the insured event has occurred or the obligation on an insurer to prove that an exception applies. If the insurers allege lack of utmost good faith preceding the issue of the policy the onus of proof attaches to them.
***
The obligation on a party to a contract of proving a certain allegation in connection with that contract and relied upon by the party on whom the burden of proving it rests.