Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination..
Cargo insurance — discussed here — is a sub-branch of marine insurance, though Marine also includes Onshore and Offshore exposed property (container terminals, ports, oil platforms, pipelines); Hull; Marine Casualty; and Marine Liability.
Read more about Marine Insurance: Origins of Formal Marine Insurance, Practice, Protection and Indemnity, Actual Total Loss and Constructive Total Loss, Average, Excess, Deductible, Retention, Co-insurance, and Franchise, Tonners and Chinamen, Specialist Policies, Warranties and Conditions, Salvage and Prizes, Marine Insurance Act, 1906
Famous quotes containing the words marine and/or insurance:
“God has a hard-on for a Marine because we kill everything we see. He plays His game, we play ours.”
—Stanley Kubrick (b. 1928)
“Before I get through with you, you will have a clear case for divorce and so will my wife. Now, the first thing to do is arrange for a settlement. You take the children, your husband takes the house, Junior burns down the house, you take the insurance and I take you!”
—S.J. Perelman, U.S. screenwriter, Arthur Sheekman, Will Johnstone, and Norman Z. McLeod. Groucho Marx, Monkey Business, terms for a divorce settlement proposed while trying to woo Lucille Briggs (Thelma Todd)