ABSTRACT
This chapter reviews the origin of the Institute Cargo Clauses (ICC) by tracing back through early authorities and, in turn, showing the extent to which the clauses have been developed and whether there are any changes with respect to the term 'perils of the sea'. Moreover, modern cargo insurance can operate, either on an all-risk basis or on a named-perils basis. The concept of fortuity therefore falls to be considered in relation to the individual perils in issue. ICC (A) provides cover against all risks, whereas ICC (C) stipulates a more restricted cover. Moreover, modern cargo insurance can operate, either on an all-risk basis or on a named-perils basis. To claim successfully on such a policy the assured needs to prove that the loss was caused by one or more nominated perils from the list of perils covered by the policy. The concept of fortuity therefore falls to be considered in relation to the individual perils in issue.
