Unit 7

The company will ______________ the policy-holder against loss or damage to the insured vehicle

Ships' cargoes are covered by _____________ insurance policies

The most complete insurance is against _________

___________ is a standard form contract between the insured and the insurer, which determines the claims that the insurer is legally required to pay.

__________ is payment to the insurance company to buy a policy and to keep it in force

___________ is the losses/damages caused by special expenses and sacrifices that intentionally and reasonably conducted to save the vessel, cargo and freight from a threat in the common ocean voyage.

The party to an insurance arrangement who undertakes to indemnity for losses is the _________

The _______ is the person or entity buying the insurance and receiving indemnity on happening of unforeseen events.

The person, group, or property for which an insurance policy is issued is the ____________

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