Marine Takaful covers loss or damage of goods during normal course of transportation. In case of any loss or damage during transportation/voyage the same would be settled according to the respective Institute Cargo and/or Rail/Road Clauses.
The following are three types of Marine Cargo Takaful:-
Import of all types of shipments through Sea, Air and/or Rail/Road from other countries is called “Marine Import Takaful”.
All types of shipments being sent to other countries through sea, air and/or Rail/Road is called “Marine Export Takaful”.
This takaful covers loss or damage during transportation of goods within the country through sea, air, and/or Rail/Road.
The following risks are supposed to be happening during voyage:-