Marine insurance: Difference between revisions

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Marine insurance covers the loss or damage of ships and goods at sea. It typically compensates the owner of merchandise for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier. The term abandonment is used to describe the surrender of the ship or goods insured to the insurers, in the case of a constructive total loss of the thing insured.

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	'''Marine insurance''' covers the loss or damage of goods at sea. It typically compensates the owner of merchandise for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier. The term [[abandonment]] is used to describe the surrender of the ship or goods insured to the insurers, in the case of a constructive total loss of the thing insured.		'''Marine insurance''' covers the loss or damage of ships and goods at sea. It typically compensates the owner of merchandise for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier. The term [[abandonment]] is used to describe the surrender of the ship or goods insured to the insurers, in the case of a constructive total loss of the thing insured.

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