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INSURANCE, Insurance in business, MARINE INSURANCE - Coggle Diagram
INSURANCE
practice taking risks other people
peopel or companies
insurance policy
contract between
insurer
insurance company
insured
say
damage insurer pay
indemnity
insured pay
premium
specifies
tayp risks covered
period covered
premium and indemnity
other procedure
Insurance in business
goods have
different insurance
when they are in factory
while they are trasport
In case of damage or loss
will make a
claim
insurer send surveyor control goods
if damage o loss covered insured be indemnified
MARINE INSURANCE
cover everything can happen traveling sea
which may be based on
amount covered
Valued policy
amount indicated
Unvalued plicy
amount not indicated
length of time covered
Voyage Policy
covers specific shipments
Time Policy
covery shipments in specific time
unlimited period of time
Floating Policy
covered shipments of sum of money
Open Cover
shipments don't have limits on value
Special clauses
may be included
Free of Particular Average
cover total loss
With Particular Average
damage cargo
All Risks
complete protection
Warehouse to Warehouse
covers all risks during shiping