UNIT 9: INSURANCE

The company will ______ the policy holder against loss of or damage to the insured

vehicle.

Ships’ cargoes are covered by ___________ insurance policies.

A flexible type of insurance, for 12 months, at agreed rates, is ________

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 payments 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__________

__________ 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 __________