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Ocean Marine Insurance

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Business Glossary
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Definitions for: ocean marine insurance, war risks
ocean marine insurance, war risks

coverage on cargo in overseas ships for war-caused liability excluded under standardocean marine insurance. Not covered is cargo awaiting shipment on a wharf, or on ships after 15 days of arrival at a port. Confiscation of the cargo by a government is covered. Most policies have an automatic termination clause that goes into effect within 60 days of the declaration of war between countries specified in the policy.

Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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Industry Associations

Industry Associations
North American Shippers Association
Shippers of wine and spirits. Seeks to advance the industry. Offers members discount benefits on ocean freight and marine insurance coverage

Members: 550
Founded: 1987
Dues: regular, $75 annual.

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