The First Schedule (rule 15) of the Marine Insurance Act 1906 states that the term ‘includes the hull, materials and outfit, stores and provisions for the officers and crew, and in the case of vessels in a special trade, the ordinary fittings requisite for the trade, and also, in the case of a steamship, the machinery, boilers, and coals and engine stores, if owned by the assured’.
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Ship includes the hull, materials and outfit, stores and provisions for the officers and crew and in the case of vessels engaged in a special trade, the ordinary fittings requisite for the trade, and also, in the case of a steamship, the machinery, boilers and coals and engine stores, of owned by the insured.

This is usually agreed each year between the shipowner and the leading underwriter.

The liability of a shipowner for loss, injury or damage to others or the property of others arising in tort, contract or under statute. See PROTECTION AND INDEMNITY CLUBS; RUNNING DOWN CLAUSE.

Bill of lading issued after the goods have actually been loaded. Under the Carriage of Goods by Sea Act 1971 a shipper may demand such a bill from the shipowner. Normally done by adding the name of the vessel and the date of shipment to the received for shipment bill.