In marine insurance
to include damage
or loss due to latent causes such as breakage
of the ship's drive
shafts, bursting of its boilers, unseen defects in its hull, machinery, and auxiliary equipment; as well as due to errors in navigation
, or negligence
of its captain, officers, engineers, crew, pilots, etc. It is named after the ship Inchmaree involved in a landmark 1887 case (Thames & Mersey Marine Insurance Co. v. Hamilton, Fraser & Co.) where a UK court
declared that the above causes do not fit the definition of 'all other perils ... losses or misfortunes.'