Please report any issues with this site to Lexicon Webmaster.
An undertaking in which the Assured promises to comply with certain conditions. Non-compliance constitutes a breach of warranty and the insurance company is discharged from liability from the date of the breach. Expressed Warranty - An agreement written in the policy that the Assured must strictly and literally comply with. A violation thereof voids the insurance; e.g. trading warranties. Implied Warranty - Fundamental conditions implied in a contract of marine insurance: