What is perils of the sea clause?
Broadly speaking, 'peril of the sea' covers damages to the ship during the voyage by the Acts of God. It includes those accidents or casualties which do not happen due to the free will of a human being. Even if we talk about natural perils, it will not include the natural and ordinary action of wind.
What is meant by cargo insurance?
What is Cargo Insurance? Insurance that generally protects shipments from loss, damage, or theft while in transit. This coverage is beyond basic claims insurance that may be provided, and it will reimburse for the designated value of the goods if a covered event occurs while the freight is in transit.
What is Hull insurance policy?
Hull insurance covers losses to the vessel itself from specified perils. Usually there is a provision that the marine hull should be covered only within specified geographic limits. Cargo insurance is usually written on an open contract basis under which shipments, both incoming and outgoing,…
What is jettison in marine insurance?
Jettison — the intentional throwing overboard of part of the cargo or some piece of the ship in order to save the ship or its cargo. Virtually all ocean marine policies cover the peril of jettison.
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- which of the following is an example of peril