Maritime Insurance
/ˌmærɪˈtaɪm ɪnˈʃʊərəns/
Definitions
- (n.) Insurance covering loss or damage to ships, cargo, and freight as well as liability arising from maritime activities.
The company purchased maritime insurance to protect its vessels against storm damage.
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Commentary
Maritime insurance typically includes various coverages related to shipping and navigation; it is distinct from other types of property insurance by its focus on risks inherent to maritime operations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.