_____ is an insurance policy for indemnifying the insured for losses caused by damage to ship.
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Ship or hull insurance: Since the ship is exposed to many dangers at sea, the insurance policy is for indemnifying the insured for losses caused by damage to the ship. ... Freight insurance is for reimbursing the loss of freight to the shipping company i.e., the insured.
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Marine Insurance - Its Components - definition
(a) Ship or hull insurance: Since the ship is exposed to many dangers at sea, the insurance policy is for indemnifying the insured for losses caused by damage to the ship. (b) Cargo insurance: The cargo while being transported by ship is subject to many risks.
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