ABSTRACT
In the event of loss or damage to cargo due to perils of the voyage, the insured will be able, depending on the terms of the insurance policy, to recover his losses from the underwriter or insurer. Insurance of goods during their transit from the exporting country to the importing country is an important incident in an international sale transaction. This chapter focuses on cargo insurance, with the emphasis on marine insurance contracts, since much of the cargo is still transported by sea. The general principles applicable to marine insurance contracts, the circumstances in which risk does not attach, the undertakings of the insured and the liabilities of the insurer in a marine insurance policy are topics for consideration. The parties may agree to tender a certificate of insurance instead of an insurance policy, in which case the tender will be a good tender. The suspensory character of warranties, from the insurer's perspective, causes uncertainty.
