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What is marine specific policy




1) This type of policy covers specific goods for a specified voyage / journey. 2) The Cargo, its value, the name of the Ship / Conveyance, port of loading and discharge are all known and the risks are well defined.

What is specific voyage policy?

A voyage policy is marine insurance coverage for risks to a ship's cargo during a specific voyage. Unlike most insurance policies it is not time-based but expires when the ship arrives at its destination. It covers only the cargo, not the ship that carries it. A voyage policy is also known as marine cargo insurance.

What are the different types of marine insurance policies?

Ocean marine contracts are written to cover four major types of property interest: (1) the vessel or hull, (2) the cargo, (3) the freight revenue to be received by the ship owner, and (4) legal liability for negligence of the shipper or…

What are the four major coverages of an ocean marine policy?

1) The open policy is issued to cover several shipments/ despatches for the period of 12 (twelve) months based on the Sum Insured sufficiently large and adjusted against the value of each cargo in a reducing balance method. 2) Traders having regular despatches are interested to take the benefit of the Open Policy.


[PDF] MARINE CARGO POLICY SPECIFIC TRANSIT - irdai

THE COMPANY HEREBY PROMISES AND AGREES with the Assured their Executors Administrators and Assignees that the Company will insure against loss damage 

[PDF] MARINE CARGO OPEN POLICY HANDBOOK - IBANZ

Marine insurance is concerned with insuring vessels cargoes and related marine liabilities The premium income of the New Zealand

[PDF] MARINE CARGO INSURANCE CLAUSES (for Individual Policy)

1/1/09 INSTITUTE CARGO CLAUSES (A) RISKS COVERED Risks 1 This insurance covers all risks of loss of or damage to the subject-matter insured except as 

[PDF] MARINE INSURANCE - NIOS

It is issued for a substantial amount to cover shipments or sending during a particular period of time Declarations are made under the open policy and these go 



[PDF] Policy Wording UIN Marine- Cargo Insurance Policy - IFFCO-Tokio

Marine Cargo –Open Insurance Policy SCHEDULE WHEREAS the Insured named in the Schedule hereto has made a written proposal and declaration which shall be 

[PDF] Marine Insurance specific policy - TATA AIG

5 6 7 MARINE CLAIM FORM THE ISSUE OF THIS FORM IS NOT 

[PDF] Marine Cargo Policy - Gulf Union Insurance

This policy covers goods freight and other interests against loss or damage Specific Voyage: In Marine Insurance specific policies are issued to cover 

[PDF] UNIT V Marine Insurance -scope and nature types of Marine policies

Marine Insurance is a type of insurance that covers cargo losses or damage Voyage policy: A specific policy can be taken for a single lot or consignment





  1. what is a marine policy
  2. define marine policy
  3. marine specific voyage policy
  4. what is maritime policy
  5. types of marine cargo policies
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