Marine insurance

1.Marine Cargo Insurance: Marine Cargo Insurance is the eldest insurance. It formed in Medieval Europe, traders guaranteed to deliver goods safely.Nowadays, depends on different trade terms, the client choose to buy insurance to transfer risk.
2.Carrier’s Liability Insurance: It covers carriers’ business because they are liable for any loss or damage to goods resulting from any accident under the carriage of goods.
3.Marine Hull/Fishing Vessel Insurance: It covers vessels loss or damage by perils of the sea or machinery breakdown while sailing on the sea.
4.Shipowner’s Liability Insurance: It is inclusive of employer’s liability, amusement fishing vessel liability and yacht liability insurance.