Air Cargo Insurance
Definition of "Air cargo insurance"
Coverage for an air carrier's legal liability for damage, destruction, or other loss of a customer's property while being shipped. Coverage is on an all risks basis subject to specific perils excluded in the policy. Air cargo insurance is a form of marine insurance, which at one time only covered goods in transit over waterways. Today, goods in transit can be insured regardless of the means of transportation.
Popular Insurance Terms
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Sanction or affirmation by an insurance company of acts of its agents that become the acts of the company, with all the legal obligations these acts entail. ...
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Maritime acts resulting in a liability circumstance falling under common law and statutory law. ...
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