Risks covered by marine insurance are generally determined by an agreement between the parties concerned. In general, the marine insurance covers the following risks.
(a) Perils of the sea- It includes out-of the ordinary wind and wave action,
stranding , lightning, collision and damage by sea water when caused by
perils such as opening of the seams of the vessel by stranding or collision.
(b) Fire- Fire includes both direct fire damage and also consequential damage
as by smoke or steam and loss resulting from efforts to extinguish a fire.
It also covers explosion caused by fire.
(c) Assailing thieves- This refers to a forcible taking rather than clandestine theft
or mere pilferage.
(d) Jettison- Jettison is the throwing of articles overboard, usually to lighten the
ship in times of emergency.
(e) Barratry- Barratry is the willful misconduct of master or crew and would
include theft, wrongful conversion, intentional casting away of vessel or any
breach of trust with dishonest intent.
(f) All other perils- This clause does not mean all the perils that befall a shipment, but sea perils of the sort listed in the clause.
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About the Author
Occupation: freelance writer
The author has done her masters in computer applications and writes many articles for social welfare.The author is very diplomatic,noble and highly creative with high level of commitment towards work with best quality.
Inspite of not having a Management Qualification of her own ,she has lots of concern and passion for business organizations in terms of their product analysis,quality focus, stratergic planning issues wealth management, investment related issues,diversification of business chambers ,etc.
she developed the art of writing and has started contributing in the field of management ,by thinking well and reading a lot of business related magazines.
Apart from reading ,writing,she is a very sincere hardworking personality and loves simplicity. She focuses and appreciates knowledge based networks and gives respect for talented and hardworking proactive people.
She never encourages artificial praises and doesn't believe in LUCK.She BELIEVES IN quality and total committment to work.She never likes people wasting time.
She is versatile in many other areas,some of those include singing,playing veena,drawing pictures on computer and with pencil,mehendi designing,pot painting etc.
she believes in god,but always for her duty in the form of work is worship and parents first all next.
