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Name / NAIC Group/Co. Code Effective July 1, 1993, the exclusion from coverage by the Virginia Property and Casualty Insurance Guaranty Association (Association) given in 38.2-1601 was changed from "Ocean marine insurance" to "Insurance of vessels or craft used primarily in a trade or business, their cargoes, and marine builders' risk and marine protection and indemnity." This Report should be completed by all companies authorized to write either ocean or inland marine premi.

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

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.

The Three Main Classifications Of Marine Insurance. 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.

Ocean marine contracts are written to cover four major types of property interest: (1) the vessel or hull, (2) the cargo, (3) the freight revenue to be received by the ship owner, and (4) legal liability for negligence of the shipper or…

Hull Coverage - Designed to pay physical damage losses caused to the vessel. Such loss or damage may be caused by fire, lightning, windstorm, hail, tornado, collision, sinking, and other perils identified by the policy.

Ocean marine insurance is designed to help safeguard goods and merchandise on board shipping vessels while in transit either domestically or internationally. Marine insurance policies can also cover shipments in other stages of transport, including over land or by air.

Hull Coverage - Designed to pay physical damage losses caused to the vessel. Such loss or damage may be caused by fire, lightning, windstorm, hail, tornado, collision, sinking, and other perils identified by the policy.

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© Copyright 1997-2025
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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