Podcast
Questions and Answers
Which type of insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred?
Which type of insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred?
- Car insurance
- Health insurance
- Marine insurance (correct)
- Life insurance
What is the sub-branch of marine insurance that specifically covers the insurance of cargo?
What is the sub-branch of marine insurance that specifically covers the insurance of cargo?
- Life insurance
- Cargo insurance (correct)
- Health insurance
- Marine insurance
Which type of insurance is used when goods are transported by mail or courier?
Which type of insurance is used when goods are transported by mail or courier?
- Marine insurance
- Shipping insurance (correct)
- Health insurance
- Life insurance
Apart from cargo, what other types of property does marine insurance cover?
Apart from cargo, what other types of property does marine insurance cover?
Who dictated the 4,130 lines of cuneiform law found on the basalt or diorite stele?
Who dictated the 4,130 lines of cuneiform law found on the basalt or diorite stele?
Which party has the contractual obligation to compensate for losses in an indemnity agreement?
Which party has the contractual obligation to compensate for losses in an indemnity agreement?
What is the duty to indemnify usually coextensive with?
What is the duty to indemnify usually coextensive with?
What is the purpose of indemnities in insurance contracts?
What is the purpose of indemnities in insurance contracts?
In an agency context, who may be obligated to indemnify their agent for liabilities incurred?
In an agency context, who may be obligated to indemnify their agent for liabilities incurred?
What is the primary purpose of a guarantee in contract law?
What is the primary purpose of a guarantee in contract law?
Flashcards
Marine Insurance
Marine Insurance
Insurance covering physical loss or damage to ships, cargo, terminals, and transport during transfer.
Cargo Insurance
Cargo Insurance
A type of marine insurance that covers cargo.
Shipping Insurance
Shipping Insurance
Insurance for goods transported by mail or courier.
Marine Insurance Coverage
Marine Insurance Coverage
Covers not just cargo, but also onshore/offshore property.
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Hammurabi's Code
Hammurabi's Code
4,130 lines of cuneiform law on a basalt/diorite stele.
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Indemnitor
Indemnitor
The party obligated to compensate for losses in an indemnity agreement.
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Duty to Indemnify
Duty to Indemnify
Duty to compensate, equivalent to holding harmless.
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Purpose of Indemnities
Purpose of Indemnities
Provide insurance coverage for various types of loss.
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Principal's Indemnity
Principal's Indemnity
Obligation to reimburse an agent for liabilities incurred.
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Guarantee's Purpose
Guarantee's Purpose
Ensures promise fulfillment if a party defaults.
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Basalt/Diorite Stele
Basalt/Diorite Stele
A stone monument with inscribed cuneiform law.
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Cuneiform Law
Cuneiform Law
Ancient law written in a wedge-shaped script.
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Indemnity Agreement
Indemnity Agreement
Contract for compensation in case of losses.
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Duty to Hold Harmless
Duty to Hold Harmless
Obligation to protect from harm or losses.
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Exposed Property
Exposed Property
Property at risk, whether onshore or offshore.
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