Ch 2: Basic Transportation Policies and Their regulation

What is a policy that provides great flexibility, allowing coverage for an unlimited number of shipments within an agreed timeframe or for an indefinite period until either party cancels the agreement?

• Open policy

• Voyage Policy

• Single policies or for travel

• Floating or subscription policies

What type of insurance covers goods being transported by sea against loss or damage caused by perils such as storms, sinking, collision, piracy, and theft?

• Marine Cargo Insurance

• All Risks Insurance

• Liability Insurance

• Freight Forwarder Liability Insurance

What policy covers goods being transported by land, including road, rail, or inland waterways, against loss or damage caused by accidents, theft, or other risks?

• Inland Transit Insurance

• All Risks Insurance

• Liability Insurance

• Freight Forwarder Liability Insurance

What type of policy covers goods from the moment they are loaded onto the transport vehicle until they reach the final destination, including any storage or warehousing in between?

• Inland Transit Insurance

• All Risks Insurance

• Warehouse-to-Warehouse Insurance

• Freight Forwarder Liability Insurance

What is a type of insurance that covers damages or losses that occur when the master of the ship has to sacrifice part of the cargo or the ship to save the rest?

• Inland Transit Insurance

• All Risks Insurance

• Warehouse-to-Warehouse Insurance

• General average policy

Define the Freight insurance?

List four of the benefits of Haulage and Freight Insurance:

List four of the perils (risks) Covered in a Cargo Insurance Policy?

A policy that provides a great flexibility- the coverage can apply to either an unlimited number of shipments within an agreed timeframe or for an indefinite period until either party cancels the agreement.

• Open policy

• Voyage Policy

•   Single policies or for travel

• Floating or subscription policies

     Where the contract is to insure the subject matter of insurance from one place to another or others.

• Open policy

• Voyage Policy

• Single policies or for travel

• Floating or subscription policies