Marine Insurance

Marine Insurance is supposed to be the oldest type of Insurance that dates back to beginning of the 17th Century AD.

It covers covers loss of or damage to ships, cargo, terminals, and any transport or property by which cargo is transferred, acquired, or held between the points of origin and final destination.

Historically, Marine Insurance was evidenced by an age-old Policy form called "S.G.Policy Form" where the abbreviations "S.G." denote Ship and Goods.  Following the UNCTAD-spearheaded reforms aimed at simplifying export-import documentation, a revised Policy form was introduced by the Institute of London Underwriters in the London market since January 1, 1982.

Among the types or categories falling under Marine Insurance, the following are discussed here:-

3.  Marine Air Cargo
4.  Ship Builders' Risks including Liability
5.  Terminal Operators' Risks including Liability
6.  Hauliers' Liability