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)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)