Property and Casualty Insurance License Exam Cram™

Chapter 14. Ocean and Inland Marine Insurance

Terms you'll need to understand:

• Hull insurance

• Cargo insurance

• Freight insurance

• Protection and indemnity insurance

• Trip or voyage coverage

• Open cargo coverage

• Perils of the sea

• Jettison

• Barratry

• General average loss

• Particular average loss

• Annual transit policy

• Trip transit policy

• Motor truck cargo policy

Concepts you'll need to master:

• Warehouse to warehouse coverage

• Implied warranties

• Nationwide definition

• Commercial property floaters

• Filed versus nonfiled forms

• Domestic shipments

• Instrumentalities of transportation and communication

• Bailee's customer policies

• Equipment floaters

• Business floaters

• Dealers policies

Marine insurance is a type of insurance that protects property wherever it is—on land or sea. There are two types ...