Marine Cargo Insurance

(redirected from Ocean Marine Insurance)

Marine Cargo Insurance

Insurance covering loss or damage to goods in transit.

Marine Cargo Insurance

An insurance policy that protects the buyer of a good being transported over water from the loss of that good. Most of the time either the buyer or the seller is required to purchase marine cargo insurance (or at least to assume the risk of transit); their specific agreement determines which one is responsible. See also: Incoterm.
References in periodicals archive ?
Under Jeffs guidance, we look forward to delivering market-leading Ocean marine insurance to more businesses in this thriving marine market.
There can be no doubt that the Policy is an ocean marine insurance policy.
The risks are no surprise to veteran ocean marine insurance agents, brokers and underwriters.
ocean marine insurance market on December 31, 2013.
Ocean marine insurance can include both larger personal boats and commercial ships, plus cargo and liability for a ship's owner, which is called protection & indemnity insurance.
Given the sharp increase in the number of pirate attacks, the cost of transporting cargo in international waters could rise dramatically because of the sharp increase in ocean marine insurance rates for ships transiting the Gulf of Aden.
Inland marine insurance is an outgrowth of ocean marine insurance.
For the most college and university professors of insurance, ocean marine insurance remains a romantic and mysterious enigma.
1 writer of ocean marine insurance based on 2010 direct premiums written.
has purchased few assets of Ocean Marine Insurance Agency Inc.

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