Marine Insurance

by on 03 September 2012

Marine insurance only pays for physical damage or loss of the goods  in fortuitous (accidental or unexpected ) events, not inevitable outcomes.

Marine cover normally starts the moment the goods begin their internatonal journey including domestic transport en route.

In short:

Marine or cargo insurance covers cargo in transit internationally.

Even an “all risks” cargo policy has exclusions, extra clauses can be added

Know relevant INCOTERMS  to understand risk and responsility.

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