Marine Cargo Insurance is the insurance of properties as they move from a point of origin to final destination. The Marine Cargo Insurance covers the loss of or damage to goods or cargoes while in sea or air as well as subsequent land transportations both domestic and international. (Refer to the Shipping Insurance)
Reference Definition by Wikipedia: Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, (container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. When goods are transported by mail or courier, shipping insurance is used instead.
Related Definitions in the Project: The Logistics Management; Bond and Insurance; Procurement
