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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Future benefits to be paid to the policyholders and beneficiaries, assigned surpluses, and miscellaneous debts. These primary liabilities take the form of reserves, which must be listed on ...
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