distingusish between life fire and marine
insurance
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Two important characteristics of fire insurance are: Insurable Interest: The policyholder must have an insurable interest in the property being insured. ... Marine insurance covers any damage a ship or the cargo of the ship may suffer during the voyage or at any point between the start and end of the journey.
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The key difference between Fire Insurance and Marine Insurance lies in the fact that fire insurance means to take an insurance policy to cover all losses that occurred due to fire. Marine insurance means to take an insurance policy for all the damage that occurred to ship or cargo due to sea perils.
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