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Insurance Definition: OCEAN MARINE INSURANCE

By Compuquotes Team on March 27th, 2008

OCEAN MARINE INSURANCE:

Definition:

  • Coverage of all types of vessels and watercraft, for property damage to the vessel and cargo, including such risks as piracy and the jettisoning of cargo to save the property of others. Coverage for marine-related liabilities. War is excluded from basic policies, but can be bought back.

Information provided by Insurance Information Institute

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