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TYPES OF LOSSES: Let us now discuss the extent of loss coverage provided in the insurance policy. For this purpose, you should first understand the mean of the term of "Loss". Look at Fig. carefully which depicts various types of losses. Let us now discuss them in detail.
Various Types of Losses
Exclusion Clauses : Notwithstanding the vast range of perils covered under the contract of cargo insurance, insurance cover is not provided against a number of perils and losses.
Strike Perils : In marine insurance, strike perils mean events which lead to loss or damage to cargo caused by: i) Strikes, lock-out workmen or persons taking part in labour di
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OBJECTIVES After studying this unit, you should be able to : 1. describe the need of cargo insurance in international business; 2. explain various kind of perils covered
Registration-cum-Membership Certificate: Any person, applying for a licence to import or export or for any other benefit or concession under this policy shall be required to finis
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