Cargo Liability Insurance
Definition of "Cargo liability insurance"
Same as term Cargo Insurance: shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, dampness, mold, losses due to delay of shipment, and loss of market for the cargo. One Cargo Exposure (Single Risk Cargo Policy) covers a single shipment of goods and/or a single trip. All Cargo Exposure (Open Cargo Policy) covers all shipments of goods and/or all trips generally used by most shippers that require automatic coverage for all of its shipments, subject to 30 days' notice of cancellation.
Popular Insurance Terms
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Actual mortality experience of an insured group as compared to the expected mortality for that group. ...
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Partnership between an agency of the U.S. government and the Foreign Credit Insurance Association (50 commercial insurance companies, both stock and mutual). Insures that businesses are ...
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