cargo liability insurance Definition | Business Dictionaries from AllBusiness.com

cargo liability insurance

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shippers' policies covering one cargo exposure or all cargo exposures by sea on all risk/all peril basis. Exclusions include war, nuclear disaster, wear and tear, dampness, mold, losses due to delay of shipment, and loss of market for the cargo. One Cargo Exposure (Single Risk Cargo Policy) covers a single shipment of goods and/or a single trip. All Cargo Exposure (Open Cargo Policy) covers all shipments of goods and/or all trips.

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