marine insurance

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marine insurance:

see insuranceinsurance
or assurance,
device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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References in periodicals archive ?
Uptake of marine cargo insurance is still very low because implementation issues,' Shippers Council of East Africa chief executive Gilbert Langat said.
The new marine cargo insurance service product was issued as part of QNB's efforts to enhance the quality of services offered to its customers through its corporate bancassurance products.
The most flexible, open, "all risk" marine cargo insurance coverage is provided through what is known as a "stock throughput" policy.
Through this new service, Dubai Trade customers will be able to avail themselves of Adnic's marine cargo insurance services and e-cargo solutions.
Thus, if the Subject- matter of Insurance is damaged or destroyed by acts of these Strikers, the relative In-Land Transit Marine Cargo Insurance Policy can be called-in to Indemnify the Insureds under this Provision of the Sub-Clause under reference.
In Marine Insurance Cargo coverage is provided for goods in transit for both import and export and the mode of conveyances on waterways, air and land routes marine cargo insurance is divided mainly into three segments i.
Ironically, Africa is one of the first places where there was evidence that, as long ago as 1000 BC, the Egyptians and the Phoenicians trading along the North African Coast practised a rudimentary form of mutual marine cargo insurance, where merchants deposited a small proportion of their cargo in a warehouse, and this would then be used to compensate those merchants who lost their cargoes at sea.
The most common London form of marine cargo insurance, institute Cargo Clauses (A), covers "all risks of loss of or damage to the subject matter insured except as provided in Clauses 4, 5, 6 and 7.
We are also able to provide customers with Shariah-compliant marine cargo insurance through SABB Takaful," he added.
Services provided include ocean freight, customs brokerage, marine cargo insurance, and consolidation.

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