Covers losses resulting from latent defect in hull and machinery of vessel and losses resulting from errors in navigation or management of the vessel by master or crew.

named after a ship, this marine insurance clause was introduced in 1887 to insure against damage caused by crew negligence

A clause used in ocean marine policies to identify additional named perils beyond the basic marine perils. In the more recent hull insurance policies, the clause is now identified as the "additional perils" clause. The original clause grew out of a lawsuit brought in 1887 by the owners of a ship named "Inchmaree".