Question

Observe the picture and identify what type of Insurance can be claimed.

Options

• Health

• Fire

• Life

• Marine

Answer 1

Marine

Explanation:

Marine insurance is a contract of indemnity whereby the insurance company undertakes to indemnify the insured for the loss or damage to the ship, cargo, or freight on account of marine adventure. It is a contract under which the insurer agrees to compensate the insured against risks incidental to marine adventure.