Marine Insurance
Marine insurance has been the answer to many of the perils of local and international commerce as early as 1688. Goods may be transported from one place to another by sea, air, road or rail. The carrying vessel is also vulnerable to any water peril or the owner may incur liability against third parties including passengers. With many people involved in the marine adventure, the need for marine insurance becomes evident.
Following the enactment of Merchant shipping Act 2009, all vessels plying within the inland and coastal waters are mandated to be insured. ICEA provides insurance cover for marine cargo marine hull, and liabilities arising there from.
