Insurance Policy Flashcard

Front

Which of the following is the oldest form of insurance?

• Life Insurance
• Marine Insurance
• Health Insurance
• Fire Insurance

Back

Marine Insurance

Front

A Voyage Policy covers risks:

Back

For a specific voyage

Front

Which policy is a combination of both voyage and time policies?

Back

Mixed Policy

Front

What is the primary purpose of a Floating Policy?

Back

To insure all cargo shipments within a period

Front

Which policy protects the ship while it is anchored at a port?

Back

Port Risk Policy

Front

What type of policy is issued for a ship covering multiple risks under a single sum insured?

Back

Blanket Policy

Front

Freight Insurance protects against:

Back

Loss of freight payments

Front

Which of the following is NOT a Marine Insurance policy? Composite Policy, Cargo Policy, Valued Policy, Consequential Loss Policy

Back

Consequential Loss Policy

Front

Run Off in a Floating Policy

Back

The total insured amount has been used up

Front

What is a Block Policy?

Back

Covers risks related to both land and sea transportation