Marine insurance is a contract between two parties where one agrees to compensate the other for losses from certain marine risks during sea voyages in exchange for payment. The risks covered include those at sea and on land incidental to the voyage, as outlined in the marine policy document. The marine policy contains the terms and conditions of the insurance and can take various forms, including value, unvalued, voyage, time, mixed, and floating policies.

2. Marine insurance is a contract
between two parties under which
one party agrees to compensate the
other party against the loss arising
from certain marine risk in
consideration of a certain payment.

3. The risk of the sea as well as
the land risk incidental to the
sea voyage against which the
insurance is effected are
called the marine policy.

4. 1. Utmost good faith
2. Insurable interest
3. Indemnity

5. The terms and conditions of
a marine insurance are
contained in a document
called the MARINE POLICY.

6. 1. Value policy
2. Unvalued policy or open policy
3. Voyage policy
4. Time policy
5. Mixed policy
6. Floating policy or Declaration
policy or Open cover

7. Presented by
Keerthi kumari u.p.