This is the insurance of water vessels (yacht, boat, and ship). The cover is against loss or damage to the hull, engines, and accessories caused by perils of the sea, rivers, lakes or other navigable waters. It also covers loss by fire, theft, jettisons, piracy, explosion, malicious acts.
This policy covers loss or damage to goods and/or merchandise in transit from one place to another by sea, air, rail, road or registered post. The cover provided is in respect of marine perils, war and strike, riot and civil commotion perils.