Su- Lin is the CEO of a large shipping company, the company has been contacted to carry a large shipment of argyle diamo

[answerhappygod]

Su- Lin is the CEO of a large shipping
company, the company has been contacted to carry a large shipment
of argyle diamonds from the Port of Darwin to the Port of
Melbourne. The diamonds are valued at $10 million.
Su-Lin asks Sarah to ensure that there
is a contract for marine insurance entered into for the diamonds
and to ensure that the insurance covers the risk of piracy.
Sarah phones Marine Insurance Co. Pty
Ltd and discusses with Steven the proposed coverage. Steven advises
that the insurance contract will cost $1,000 for the voyage and
given the high risk of piracy off the coast of Sydney, to ensure
against piracy there will be a premium of $200.
Sarah, says that they will pay the
premium.
Steven does not issue any written
contract.
Pirates board the ship off Mosman and
steal the diamonds.
Advise