marine insurance

American  

noun

1. ocean marine insurance.

2. inland marine insurance.

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marine insurance British  

noun

1. insurance covering damage to or loss of ship, passengers, or cargo caused by the sea

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Etymology

Origin of marine insurance

First recorded in 1795–1805

Example Sentences

“General average is a shared sacrifice,” said William Fennell, chair of the Marine Insurance and General Average Committee for the Maritime Law Association of the United States.

From New York Times

The collapse of a bridge in the US city of Baltimore will result in the largest single marine insurance loss ever, a British insurance marketplace said.

From BBC

Historians estimate between one and two-thirds of the British marine insurance market was based on the slave trade in the 18th century.

From Reuters

Odds and ends from the book — references to Cairo, the business of marine insurance — get new weight and a different context.

From Los Angeles Times

Most vessels get two types of insurance: marine insurance covering damage from natural disasters and collisions, and marine war insurance covering damage from war or terrorism.

From Reuters