THE LAW OF MARINE INSURANCE

The term marine insurance (Fr. assurance maritime, It. assicurazioni maritime,
Germ. Seeversicherung) refers to the insurance of vessels; cargoes; shipowner’s,
shiprepairer’s, and other marine liabilities; and of the various other moveable property
and associated interests exposed to the risks incidental to marine transport.
It protects the insured against damage, loss, and liability arising from exposure of
a vessel, goods, or any moveable property to maritime perils; meaning the perils
consequent on, or incidental to, navigation at sea. A contract of marine insurance
may cover mixed sea and land, or inland water, risks.

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