Marine cargo insurance indemnifies the insured for a loss of?

Assessment: WAEC SSCE - Insurance - 2018 (Objective) Subject: Insurance

Question 1 Report

Marine cargo insurance indemnifies the insured for a loss of?

Answer Details
Marine cargo insurance indemnifies the insured for a loss of the consignment or goods being transported by sea. This means that if the goods being shipped are lost, damaged, or stolen during transit, the insurance policy will provide financial compensation to the insured for the value of the lost or damaged goods. This type of insurance is important for businesses that frequently ship goods by sea, as it protects against the risk of loss or damage during transit and provides peace of mind for both the shipper and the recipient of the goods.
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