unit9 tacn3

The company will _ the policy-holder against loss of or damage to the insured vehicle

indemnify

Ships' cargoes are covered by _ insurance policies

marine

A flexible type of insurance, for 12 months, at agreed rates, is _

open cover

The most complete insurance is against _

all risks

_ is a standard form contract between the insured and the insurer, which determines the claims that the insurer is legally required to pay

Insurance Policy

_ is payments to the insurance company to buy a policy and to keep it in force

Premium

_ is the losses/damages caused by special expenses and sacrifices that intentionally and reasonably conducted to save the vessel, cargo and freight from a threat in the common ocean voyage

General Average

The party to an insurance arrangement who undertakes to indemnify for losses is the _

insurer / underwriter

The _ is the person or entity buying the insurance and receiving indemnity on happening of unforeseen events

insured / policy-holder

The person, group, or property for which an insurance policy is issued is the _

subject-matter insured

_ is a contract whereby, in return for the payment of premiums by the insured, the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events

Insurance

A contract of _ is an agreement whereby the insurer undertakes to indemnify the assured in a manner and to the extent thereby agreed, against losses, that is, the losses incidental to marine adventure

marine insurance