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A marine insurance is a contract of _________.

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Question: A marine insurance is a contract of _________.

Options:

  1.  Increment
  2.  Indemnity
  3.  Maturity
  4.  None

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1 Answer

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2. Indemnity

A marine insurance is a contract of indemnity.

Explanation:

Indemnity is the contractual obligation to compensation for damages or losses.

It is more like a protection from injury or loss in the form of a promise to pay for whatever happens.

A marine insurance is a contract of indemnity.

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