Question
This broad type of coverage was developed for shipments that do not involve ocean transport is known as?
Solution
Insurance provided to cover the loss to movable or moving property that is a subset of ocean marine insurance. The insurance policy covers the property while in transit including while crossing an ocean, and utilizing bridges and tunnels as a method of transportation.
More Insurance Awareness Questions
- What is the CRISIL rating for New India Assurance Co Ltd ?
- Which of these changes would typically require an endorsement?
- The insurance in which risks are shared between multiple insurers is known as?
- Insurance is primarily a method of:
- What is the primary purpose of facultative reinsurance?
- What is a coverage that guarantees bondholders timely payment of interest and principal even if the issuer of the bonds defaults?
- What is the purpose of a consequential loss policy?
- A demand made by the insured, or the insuredโs beneficiary, for payment of the benefits is known as?
- What is the purpose of "mitigation of loss"?
- Any such transaction, in which any property is transferred in the name of one person and payment is made by another person is known as?