What is the Definition of Ocean Marine Insurance?

What is the Definition of Ocean Marine Insurance?

Coverage of all types of vessels and watercraft, for property damage to the vessel and cargo, including such risks as piracy and the jettisoning of cargo to save other property. Coverage for marine-related liabilities. War is excluded from basic policies, but can be bought back.

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

Other Questions: What is the definition of Annuity?

What is the Definition of Ocean Marine Insurance?

You can find random definition and meaning of insurance terms below:


What is the meaning of No-fault Insurance

May pay for your medical treatment, lost wages, or other accident-related expenses regardless of who caused the accident. This coverage is subject to the terms, limits and conditions of your policy contract and is not available in all states.


What is the meaning of Non-Renewal

When an insurer decides not to renew a policy at the end of its policy period.


What is the meaning of Occurrence

An event, or repeated exposure to conditions, which unexpectedly causes injury or damage during the policy period.


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