Marine Insurance Certificate
Definition of "Marine insurance certificate"
Special policy blank issued by an insured for individual shipments or other purposes under an open policy. The open policy allows an insured to buy protection for all marine business for an indefinite period. When required to show evidence of insurance for a particular shipment, or to protect the cargo or ship of a client, the insured may issue a certificate of insurance backed by his or her own overriding open policy.
Popular Insurance Terms
worth of each accumulation unit at the end of each valuation period for a variable annuity. This value is similar to that of the net asset value for a mutual fund. ...
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Computer system established by London trade associations for processing insurance policies. The work of LIMNET involves the notification and settlement of insurance policy claims. ...
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Decision in the absence of a plaintiff or defendant at the specified court time. ...
Process of distributing the costs associated with losses and risks over a number of insureds. ...
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Reserves required by state regulators. Because regulators must assure that an insurance company remains solvent and that it can pay future claims, they set conservative standards for ...
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