ABSTRACT
This chapter shows the pre-MIA authorities and assesses whether they could survive the enactment of the Act. It elaborates on the meaning of delay in delivery in the context of insurance contracts. The chapter describes whether the assured can claim for a total loss of goods where the delivery of goods is delayed and whether the generic exclusion of delay would strike out such claim. Certain cargo policies available in the market contain express references to 'delay in delivery' without actually defining it. Standard form market terms such as the Institute Cargo Clauses 2009 contain references to the contract of carriage through which certain charges and liabilities or the termination of the policy are determined. The Marine Insurance Act expressly deals only with two modes of delay: delay at the commencement of the voyage, and delay in voyage. In some jurisdictions loss of market is usually excluded from cargo policies by clear wording along with losses caused by delay.
