
418 INTERNATIONAL FINANCIAL MANAGEMENT
Marine Insurance Policy
A marine insurance policy is a document arising out of a marine insurance contract.
A marine insurance contract is a contract in which the marine underwriter agrees to com-
pensate the insured for any loss or damage to his goods or ship during the period of the
policy, in consideration of a sum of money called the premium. The insured can claim com-
pensation only for the loss or damage that is caused directly and naturally by a peril insured
against, under the policy of insurance.
Institutional Credit
Export growth is an essential requirement for the development of any economy. To boost ...