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)
“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,—if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”
—Hortense Odlum (1892–?)