The marine industry serves as an important connection bridge in international trade, and the cargo vessels are the most efficient, and probably the only means to transport large volumes of finished goods and commodities. In a global economy, bulk carriers are crucial, as they cover a huge range of products. For instance, Coal, Sulphur, Cement, […]
How to Decide the sum Assured in Specific Transit Insurance Policy?
The specific transit insurance policy offers coverage for cargo or goods carried through various modes of transport. This insurance policy offers protection to any consignment for one trip. This means that the protection ceases for this transit insurance policy as soon as the cargo reaches its destination. The major benefit of this specific transit insurance […]
What are the various kinds of Marine Losses?
It is possible to divide marine losses under the following head- Total Loss= It can be further segmented into the below categories: Actual Total Loss- It happens when- Goods damages completely Goods damaged beyond repairing The policyholder is deprived of the insured subject The ship is missing, and there is no trace of it In […]