Shipping insurance policies contain various clauses that define the policy coverage, terms, conditions, and limitations. Understanding these marine insurance clauses is crucial for cargo owners, shipowners, insurance companies, and all the parties involved in the contract. The general average clause is one of the important clauses of shipping insurance. In this article, let us understand […]
Articles Tagged: Marine Insurance Clauses
What are the Various Clauses of Marine Insurance Policies?
Various clauses of Marine Insurance are explained briefly below: Valuation Clause Here the value of the subject is the value as decided between both parties. In case of any loss or damage, the compensation amount would not exceed the amount as stated in the marine insurance policy. Case: K.S Shipping is planning to buy a […]