Lost or not lost

LOST OR NOT LOST. These words are sometimes inserted in policies of marine insurance. They are used when the underwriter undertakes that if the ship or goods should be lost at the time of the insurance, still the underwriter is liable, provided there is no fraud. Moll. B. 2, c. 7, s. 5; Hildy. on Mar. Ins. 10.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.