Transportation
Marine Insurance
Insurance that covers loss or damage to goods during maritime transport.
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Updated 2025-10-01
Definition
Marine insurance protects cargo owners and shippers against financial losses from accidents, theft, or natural disasters at sea.
Overview
Overview
Marine insurance is essential for international shipping, providing financial security against risks during ocean transport.
Coverage
- Loss or damage of goods
- Delay or deterioration
- Liability coverage for carriers
Example
A company shipping electronics overseas purchases marine insurance to cover potential damage during transit.
Tags
#Marine Insurance#Shipping#Cargo#Logistics#Transportation
Related Terms
Cargo Insurance
Freight Forwarding
Bill of Lading
