(1) Subject to the provisions of this Ordinance, every lawful marine adventure may be the subject of a contract of marine insurance.
(2) In particular there is a marine adventure where-
(a) any ship goods or other movables are exposed to maritime peril. Such property is in this Ordinance referred to as "insurable property";
(b) the earning or acquisition of any freight, passage money, commission, profit, or other pecuniary benefit, or the security for any advances, loan, or disbursements, is endangered by the exposure of insurable property to maritime perils;
(c) any liability to a third party may be incurred by the owner of, or other person interested in or responsible for, insurable property, by reason of maritime perils.
(3) For the purposes of this Ordinance, "maritime perils" (海上危險) means the perils consequent on, or incidental to, the navigation of the sea, that is to say, perils of the seas, fire, war perils, pirates, rovers, thieves, captures, seizures, restraints, and detainments of princes and peoples, jettisons, barratry, and any other perils, either of the like kind or which may be designated by the policy.