ˈinchməˌrē- noun
Usage: usually capitalized I
Etymology: after Inchmaree, British steamer; from its formulation as a result of the sinking of the Inchmaree in Liverpool harbor March, 1884
: a clause in a marine insurance policy on the hull of a ship that assuming the owners and managers of the ship have exercised due diligence makes the underwriter liable for loss or damage to hull or machinery arising from the negligence of the master, charterers, mariners, engineers or pilots from explosions, bursting of boilers, breakage of shafts, or any latent defect in hull and machinery, from contact with aircraft or land conveyances, or from any accident at docking facilities (as when loading or unloading or entering a dry dock)