marine insurance

(insurance) A specialized form of insurance that covers loss or damage to ships, ship hulls, cargo carried on marine vessels, airplanes, trucks, wharves, ports, harbors, container terminals, oil platforms, and drilling rigs, as well as certain liabilities that may devolve to ship owners and operators as a result of their activities.
Technically, marine insurance is divided into two categories: inland marine insurance and ocean marine insurance. The former deals with risk of loss to moving or movable property (transport vehicles and cargo). The latter with international transport by sea and air.
See also marine cargo insurance.

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