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Marine liability is most commonly known as protection and indemnity, or P&I, coverage. It covers a wide variety of third-party liabilities that marine equipment owners are exposed to during a vessel's operation.

Ocean marine insurance covers the transportation of goods and/or merchandise by vessels crossing both foreign and domestic waters including any inland or aviation transit associated with the shipment.

Example: A cruise ship is sailing on the Caribbean when an outbreak of Norovirus causes 200 passengers to fall ill. Many of the passengers sue the cruise line for medical expenses; Ocean Marine Insurance covers the liability for the ship.

What are the Types of Marine Insurance? Open Policy: All the shipments are made in a stipulated period. One-Year or Timed Policies: These are valid for a fixed period of the contract. Voyage-Based Insurance Cover: As soon as a specific voyage to a particular period is over, the policy expires.

These include: Ocean Cargo insurance, Hull and Machinery insurance, Protection and Indemnity insurance, and Marine Liability insurance, both primary and excess.

The three most common types of marine insurance are hull, cargo, and protection and indemnity (P&I). There is no such thing as a standard marine insurance policy. That is, not all marine insurance plans are built the same.

Marine protection is additionally separated into three classes of protection. These are freight insurance, ship or hull insurance, and cargo protection.

Allianz Global Corporate& Specialty (AGCS) is one of the largest marine insurer in the world, with a depth and breadth of marine capabilities that are unmatched in the industry.

What does Ocean Cargo Insurance cover? Ocean cargo insurance provides manufacturers and merchants comprehensive protection against financial losses resulting from damage to goods while in transit. Coverage can be customized and the full value of transported cargo is insured.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232