Marine Policy

This insurance is a contract whereby the insurer undertakes to indemnify the assured against losses, while the subject matter is transported from one place to another irrespective of time.
In this explanatory note, we are dealing only with marine cargo, which means goods in transit by sea, air and land. The genuine risks come in a number of different shapes and could be categorized as;

  • Perils of the Sea- Stranding, sinking, collision, heavy weather ...
  • Perils on the Sea – Fire, thieves, jettison …

This policy can be extended by endorsement to cover damage caused by War, Strike, Riot, Malicious Damage, BSG, ...