Section 881.- When a loss occurs from the happening of the risk assumed by the insurer, the assured or the beneficiary must after he had knowledge of such loss, without delay give notice thereof to the insurer.

If the provision of the foregoing paragraph is not complied with, the insurer can claim compensation for any damage suffered thereby unless the other party can prove that it is impracticable for him to comply with.

 

Section 882.- No action for payment of compensation can be entered later than two years after the loss.

No action for payment or refund of a premium can be entered later than two years after the date when the right to payment or refund of premium became due.

 

PART II

SPECIAL RULES FOR INSURANCE ON CARRIAGE

 

Section 883.- A contract of insurance on carriage covers every loss which the goods carried may sustain from the time when they are received by the carrier until they are delivered to the consignee, and the amount of compensation is fixed according to the value which the goods carried would have had on arrival at the place of destination.

 

Section 884.- If the goods carried are insured in course of their transportation, the insurable interest of such goods includes their value at the place where and at the time when they have been received by the carrier, increased by the freight to the place of delivery to the consignee and other expenses connected with transportation.

Profits to be made at the time when the goods were to be delivered, are included in the insurable interest only if there is an express agreement to that effect.

 

Section 885.- Unless otherwise specified by the contract, a contract of insurance on carriage remains valid if, under the necessities of transportation, the carriage is interrupted for a time, or there are modifications in the route or manner of carriage.

 

Section 886.- The policy of insurance or carriage must contain in addition to the particulars specified in Section 867 :

(1)   The specification of the route and manner of the carriage ;

(2)   The name or trade name of the carrier ;

(3)   The place where the goods are to be received and delivered ;

(4)   The period fixed for the carriage, if any.