Multiple choice

In which of the following areas can marine losses occur?

  1. Hull

  2. Cargo

  3. Freight

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Insurance of ships and their cargoes which provides indemnity for property loss, damage and injury to third parties. Marine losses arise in four areas given below:

  1. Hull – damage to or loss of vessel.
  2. Cargo – goods that have been sold and are being shipped to the buyer.
  3. Freight – the cost of transporting cargo.
  4. Liability – damage or injury to third parties.

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