Clauses in Marine Insurance

Clauses in marine insurance are specific agreements that outline the terms and conditions of the coverage for ships, cargo, and liabilities at sea. They define what is insured, the risks covered (like storms or piracy), exclusions (what is not covered), and the procedures for filing claims. These clauses help clarify responsibilities between the insurer and the insured, ensuring both parties understand the extent of protection. Common clauses include "Hull" (for the ship itself), "Cargo" (for goods transported), and "Liability" (for damages to third parties). Understanding these clauses is essential for managing risk in maritime activities.