Ocean Marine Insurance, War Risks
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.
Popular Insurance Terms
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Same as term Agreed Amount Clause: in property insurance, a stipulated agreement between the insurance company and the insured that the amount of insurance coverage under the policy is ...
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Date at which insurance protection begins. ...
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