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Ineffectual, void, or forfeited; as, a lapsed policy of insurance; a lapsed legacy. Lapsed devise, Lapsed legacy (Law), a devise, or legacy, which fails to take effect in consequence of the death of the devisee, or legatee, before that of the testator, or for ether cause. Wharton (Law Dict.).

proceedings under them; as, divine law; English law; Roman law; the law of real property; insurance law.

riters and others in London, for the collection and diffusion of marine intelligence, the insurance, classification, registration, and certifying of vessels, and the transaction of business of various kinds connected with shipping.

Destruction or diminution of value, if brought about in a manner provided for in the insurance contract (as destruction by fire or wreck, damage by water or smoke), or the death or injury of an insured person; also, the sum paid or payable therefor; as, the losses of the company this year amount to a million of dollars…

ch.), a steam engine for propelling a vessel. -- Marine glue. See under Glue. -- Marine insurance, insurance against the perils of the sea, including also risks of fire, piracy, and barratry. -- Marine interest, interest at any rate agreed on for money lent upon respondentia and bottomry bonds. -- Marine law. See u…

The writing or instrument in which a contract of insurance is embodied; an instrument in writing containing the terms and conditions on which one party engages to indemnify another against loss arising from certain hazards, perils, or risks to which his person or property may be exposed. See Insurance.…

A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind.

The class of a merchant vessel for marine insurance, determined by its relative safety as a risk, as A1, A2, etc.

Same as Reinsurance.

To insure again after a former insuranse has ceased; to renew insurance on.

One who gives reinsurance.

ating the amount of the subscription and the date of the payment of the installments; as, insurance scrip, consol scrip, etc. When all the installments are paid, the scrip is exchanged for a bond share certificate.

Lit., half-tontine; -- used to designate a form of tontine life insurance. See Tontine insurance. --Sem`i*ton*tine", n.

arious measures intended to give or maintain equality of opportunity, as compulsory state insurance, old-age pensions, etc., answering closely to socialism of the chair.

A policy of term insurance.

according to the terms on which the money is advanced. Used also adjectively; as, tontine insurance. Too many of the financiers by professions are apt to see nothing in revenue but banks, and circulations, and annuities on lives, and tontines, and perpetual rents, and all the small wares of the shop. Burke.…

To subscribe one's name to for insurance, especially for marine insurance; to write one's name under, or set one's name to, as a policy of insurance, for the purpose of becoming answerable for loss or damage, on consideration of receiving a certain premium per cent; as, individuals, as well as companies, may underwrite…

One who underwrites his name to the conditions of an insurance policy, especially of a marine policy; an insurer.

A law requiring insurance companies to pay to the insured, in case of total loss, the full amount of the insurance, regardless of the actual value of the property at the time of the loss.

oaths that they believed in their consciences that he spoke the truth. -- Wager policy. (Insurance Law) See under Policy.