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Marine

 

The history of marine insurance

Marine insurance is the oldest type of general insurance and it almost started at the end of the twelfth century. However, the development and progress of marine regulation started at a famous coffee shop in London called “Lloyds”, which opened in 1688, which went onto becoming one of the most important insurance institutions in the world.

 

Marine insurance plays a very important role in national and international trade. It is also closely linked to the work of he banking institutions and shipping companies. When the banks financing the goods to be transported by ships or other modes of transportation, marine insurance will protect the clients from any financial loss due to perils insured against.

 

Cargo Takaful:

Marine cargo insurance covers goods in transit by sea, air and land. The insurance covers the losses of goods due to the exposure of risks insured during the transport

 

Hull Civil Liability Takaful (third party liability):

In accordance to the rules and regulations of the state of Kuwait, It is mandatory that the hull owner’s hold the liability toward the third parties. Therefore, this insurance protects the hull owner’s from any financial and legal liability claimed by the third party

 

Hull and Machinery Takaful:

It covers damages and losses occurring to ships, yachts, boats, transmission, tools, machinery and any equipment have been disclosed in the policy. It also covers the third party liability of ship owner’s

 

The requirements for marine insurance:

 

       Copy of purchase order or the invoice

       Letter of credit if available.

 

 Click here to apply for Marine Takaful policy 

 

 For further information contact us at : 1830033 Ext :401,402,403

 

 www.answers.com/topics/marine-insurance.com

 


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