Commercial Inland Marine Insurance Flashcards
(3 cards)
1
Q
What is Ocean Marine Insurance?
A
Ocean Marine insurance covers losses or damages to a ship. It also covers in-transits losses or damages over water, air, or land.
2
Q
What is Inland Marine Insurance?
A
Sometimes called a floater, it includes property that involves an element of transportation, better described as coverage for property on land.
3
Q
Sarah drops her computer off at a tech store to have a virus removed. Who is the bailor and who is the bailee?
A
The computer store is the bailee, and the bailor is the customer, Sarah.
