Definition Of Ocean Marine Insurance, War Risks In Insurance

Definition of "Ocean marine insurance, war risks"

Erik Smith, Real Estate Agent Coldwell Banker Residential Brokerage - Orange Post Rd

Coverage on cargo in overseas ships for war-caused liability excluded under standard ocean marine insurance. Not covered is cargo awaiting shipment on a wharf, or on ships after 15 days of arrival at a port. Confiscation of the cargo by a government is covered. Most policies have an automatic termination clause that goes into effect within 60 days of the declaration of war between countries specified in the policy.