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
Those claims that arise when two or more property and casualty insurance companies have coverage on a loss. Which company then owes which portion of the claim must be determined. ...
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Confirmation by an insurance company of the acts of its agent, regardless of whether or not these acts were committed within the limit of authority granted the agent by the company. By so ...
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