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marine insurance

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15y ago

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Difference between marine and non marine insurance?

Marine insurance covers the loss of ships, cargo, terminals, and the loss of cargo. Non-marine insurance does not cover any of these things and would include all other types of insurance.


Who is a likely candidate for marine insurance?

"Well Marine insurance covers the cost of cargo, terminals, and ships. Therefore, ship owners or those who transport cargo by different means are good candidates for marine insurance since Marine insurance would provide them with coverage for their goods."


What does a merchant marine do?

A Merchant Marine is the term used to describe someone who works on a commercial ship transporting cargo via water.


What is a marine insurance policy?

It is a contract between insurer and insured where by the insurer undertakes to indemnified the insured in a manner and to the interest there by agreed against marine losses incident to marine adventure. According to section 2 (13) A of the insurance act 1938 defines Marine insurance as " the business of effecting contracts of insurance upon vessels (ship) of any description, including cargo's freights and other interests which may be legally insured in or in relation to such vessels, cargo's and freights, goods, wares, merchantiles and property of whatever description insured for any transits by land or water or both ".


What has the author J Mark Rowbotham written?

J. Mark Rowbotham has written: 'Introduction to marine cargo management' -- subject(s): Cargo handling


Where can one purchase insurance for marine cargo?

Insurance for cargo being carried at sea can be obtained from various specialist insurance companies such as CG Cargo, Nacora, or Blackmer Insurance Agency.


What is the Fuel consumption of a cargo ship?

The amount of fuel burn for a marine vessel is dependent on multiple factors. These include the vessel size, tonnage, propulsion type (fuel oil, diesel, nuclear, etc.), speed, marine conditions, and the engine efficiency itself.


What is the difference between marine general liability and commercial general liability?

Liability provides coverage for claims or losses in which you can be held liable for damages or in which you have been accused of being responsible. Comprehensive coverage would also provide coverage for other aspects of your business, such as property, inventory, business autos and equipment, cash flow, etc..


What is Marine Navigation?

Marine navigation is transportation on the water. The ability to navigate in water includes being able to avoid running aground and hitting other vessels. It is the primary method of transport for cargo in the world today and has been for centuries. It is extremely cost effective compared to other methods.


What is the person behind the name of the Lloyds Insurance Company?

Lloyd's of London was a public house or "pub" where owners of ships or cargo met and paid to ensure that the ships and/or cargo reached their intended destinations despite weather conditions, pirates or war. This was how the first "marine" insurance came to be. All other insurance came to be known as "Inland Marine" insurance. Lloyd's was the first and therefore the most prestigeous..and still is.


What is an oil port on the Caspian sea?

Baku International Marine Trade Port is the busiest and biggest port of the Caspian sea. It has an oil terminal as well as terminals for dry cargo.


What is the difference between a cargo gear register and a chain register in ships?

It is same