Question

State the following statement is True or False:

Marine Insurance gives the protection against financial loss due to perils of the sea.

• A. True
• B. False

Answer 1

The correct option is A True

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.