Marine Insurance

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which property is transferred, acquired, or held between the points of origin and final destination. It covers transit by any modes of transit like, sea transit, inland waterways, land transit by road/rail vehicle and transit by air. The scope of cover depends upon the type of clauses attached with the policy. Mainly these clauses can be grouped under two categories:

• Institute Cargo Clauses (I.C.C.)
• Inland Transit Clauses (I.T.C.)