36+ Kinds Of Marine Insurance Policies Based On Subject Matter Pictures
36+ Kinds Of Marine Insurance Policies Based On Subject Matter Pictures. 11 kinds of marine insurance policies. So marine insurance insures the coverage of all types of risks which occur during the transit.
Types of marine insurance policy from image.slidesharecdn.com As noted above the value of the subject matter insured is fixed or agreed between the parties to the. There are three things involved i.e for indemnifying the insured for losses caused by damage to the ship. These days marine insurance may offer a variety of types of insurance with diverse policies and its practice demands special attention.
Such kinds of policies are procured from more than one insurers.
The subject of marine insurance is very wide and encompassing, which is why mixed policy: Where the subject matter insured is mortgaged, the mortgagor has an insurable interest in the full value thereof, and the mortgagee has an a contract of marine insurance is deemed to be concluded when the proposal of the assured is accepted by the insurer, whether the policy is then issued or not. Marine insurance is a must for ship owners, shipping corporations, and cargo owners to protect their interests. The doctrine of indemnity is based on the insurable value.
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