Report No. 21
6. Insurable value of ships driven by power other than steam.-
Section 16 of the English Act provides that insurable value in the case of steam ships includes also the machinery, etc., if owned by the assured. This does not cover the case of a ship driven by power other than steam. A provision relating to such a ship is also necessary, and we have accordingly provided1-2 that in the case of a ship driven by power other than steam, the insurable value includes also the machinery and the fuel and engine stores if owned by the assured.
1. See Appendix I-clause 14.
2. Cf also the First Schedule, rule 15 of the English Act and the departure proposed therefrom.