The insurance policy which provides full cover against all risks at sea is known as

Assessment: JAMB UTME - Commerce - 1995 Subject: Commerce

Question 1 Report

The insurance policy which provides full cover against all risks at sea is known as
Answer Details
The insurance policy which provides full cover against all risks at sea is known as Marine Voyage Policy Insurance. This type of insurance policy covers a wide range of risks and perils that may occur during a sea voyage, such as damage to the ship or cargo, loss of goods, and liability to third parties. Marine voyage insurance provides comprehensive protection to ship owners, cargo owners, and other parties involved in the transportation of goods by sea. The policy terms and conditions may vary depending on the type of goods being transported, the route, and the duration of the voyage. With a marine voyage policy, the insured party can be assured that they are fully protected against any potential losses or damages that may occur during the sea voyage.

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