What is the Definition of Marine Insurance?

What is the Definition of Marine Insurance?

Coverage for goods in transit, and for the commercial vehicles that transport them, on water and over land. The term may apply to inland marine but more generally applies to ocean marine insurance. Covers damage or destruction of a ship’s hull and cargo and perils include collision, sinking, capsizing, being stranded, fire, piracy and jettisoning cargo to save other property. Wear and tear, dampness, mold, and war are not included. (See Inland marine; Ocean marine)

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

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What is the Definition of Marine Insurance?

What is the Definition of Marine Insurance?

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