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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Rule adopted by the financial accounting standards board that requires that obligations owed to re-insurers under multiyear insurance contracts must be reported as liabilities by the ceding ...
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Maximum amount of insurance coverage that an insurance company will underwrite in a particular geographic area. ...
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Entitlement of a pension plan participant (employee) to receive full benefits at normal retirement age, or a reduced benefit upon early retirement, whether or not the participant still ...
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