Marine Insurance

Marine insurance is the oldest form of insurance known. It covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, (container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. It provides protection even when goods are transported by mail or courier or related post. The term Marine originated when parties began to ship goods via sea. Despite what the name implies, marine transit insurance applies to all modes of transportation of goods such as by rail/ road, by air, and inland water. Marine Cargo insurance is mandatory in many import-export trade proceedings. Similarly, the ship owner carries hull insurance on his ship and also gets protection against claims by third parties. Similarly, insurance covers of wet risks such as Sea ports, and facilities for offshore drilling and oil exploration are also falling under the category of Marine insurance. We have a team of experts in marine insurance who can assists you right from choosing proper insurance coverage to the settlement of an insurance claim for any monetary loss suffered.