Cargo Marine 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
Rule that provides four requirements for monitoring the independent agent distribution system: The insurance company must be involved in the training of the independent agent. The ...
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Expenses and damages incurred as the result of damage to a ship and its cargo and/or of taking direct action to prevent initial or further damage to the ship and its cargo. These expenses ...
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