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Subrogation refers to the process an insurance company uses to seek reimbursement from the responsible party for a claim it has already paid. It is…

“Proximate cause is not very essential in case of a life insurance contract – Proximate cause is an act, whether intentional or negligent, that is…

Liability insurance is any type of insurance policy that protects an individual or business from the risk that they may be sued and held legally…

Blanket Insurance Policy Blanket insurance provides more than one type of coverage using a single policy with a single limit. It can provide multiple types…

Voyage Insurance Policy is a financial protection plan that provides coverage for goods in transit by sea. In order for a voyage policy to be valid,…

Floating Insurance policy A policy which provides coverage fly property damages which can be reasonably estimated but not actually determined until the policy expires. Often…

Port Risk Policy Port risk insurance is coverage for ships in port for a lengthy stay and/or those that are under repair. It is a…

Block Insurance Policy A block policy is a form of inland marine insurance that provides coverage on an all risks basis for property and goods…

Valued Marine Policy is a type of insurance coverage that places a specific value on the insured property, such as the hull or cargo of…

Surrender value the amount the policyholder will get from the life insurance company if he decides to exit the policy before maturity. The surrender value…