Amim 121 - Study guides, Class notes & Summaries

Ocean Marine Insurance - Answer-principally associated with vessels and their cargoes; also includes international air shipments as well as transportation by land or air that connects with an ocean shipment or international air shipment. Cargo Insurance - Answer-Insurance that covers loss of or damage to property shipped primarily by water or, if in foreign trade, by air. Hull Insurance - Answer-Insurance that covers partial or total loss of vessels caused by a covered peril; may also cove...

Ocean Marine Insurance - principally associated with vessels and their cargoes; also includes international air shipments as well as transportation by land or air that connects with an ocean shipment or international air shipment. Cargo Insurance - Insurance that covers loss of or damage to property shipped primarily by water or, if in foreign trade, by air. Hull Insurance - Insurance that covers partial or total loss of vessels caused by a covered peril; may also cover the insureds liabil...

charterers liability policy - Answer-an insurance policy that covers a voyage or time charterer's liabilities arising out of the charter party Builders Risk - Answer-cover during vessel construction ship repairers liability policy - Answer-bailee coverage marina operators legal liability - Answer-coverage for damage done to a vessel while in the custody of a marina boat dealers - Answer-inventory coverage legal contract - Answer-consists of the insured, assured, and the insurer, the unde...

American Institute Builders Risks Clauses (AIBRC) - Answer-An insurance form used in the American market to insure vessels under construction; includes hull, collision liability, and P&I coverage American Institute Ship Repairers Liability Clause - Answer-An insurance form for covering a ship repairer's liability for customers vessels in the ship repairer's care, custody, or control; also provides limited coverage for damage to property of other resulting from operation of a vessel in the ...