10 Questions
Which type of insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred?
Marine insurance
What is the sub-branch of marine insurance that specifically covers the insurance of cargo?
Cargo insurance
Which type of insurance is used when goods are transported by mail or courier?
Shipping insurance
Apart from cargo, what other types of property does marine insurance cover?
Onshore and offshore exposed property
Who dictated the 4,130 lines of cuneiform law found on the basalt or diorite stele?
Hammurabi
Which party has the contractual obligation to compensate for losses in an indemnity agreement?
The indemnitor
What is the duty to indemnify usually coextensive with?
The duty to hold harmless
What is the purpose of indemnities in insurance contracts?
To provide coverage for various kinds of loss
In an agency context, who may be obligated to indemnify their agent for liabilities incurred?
The principal
What is the primary purpose of a guarantee in contract law?
To perform the promise of a relevant other party if that other party defaults
Test your knowledge on marine insurance and cargo insurance with this informative quiz. Explore the coverage of physical loss or damage to ships, cargo, terminals, and more. Discover the sub-branch of marine insurance, cargo insurance, and its role in protecting goods during transportation.
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