Marine Cargo Insurance

Marine Cargo Insurance in International Trade

Meaning of Marine Cargo Insurance, according to the Dictionary of International Trade (Global Negotiator): Insurance covering loss of, or damage to, goods at sea. Marine insurance typically compensates the owner of merchandise for losses in excess of those which can be legally recovered from the carrier that are sustained from fire, shipwreck, piracy and various other cases. The most know marine cargo insurance conditions are published by London Institute of Underwriters (Clause “A”, B”, and “C”). See all risk; Institute Cargo Clauses.