Question

Select the option from the choices given below:

________ insurance is contract to cover risk of loss due to perils of the sea.

• A. Fire
• B. Marine
• C. Life
• D. general

Answer 1

Answer: (B)

Marine

Marine insurance is a form of the insurance contract which protects the insured against the loss from marine perils or loss by the impact of the sea. It insures ship hull, cargo, and freight. The insurer agrees to indemnify the loss due to damage of ship or cargo that occur from the risks incidental to sea.