NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Non-Life Insurance Products
Under a marine cargo policy, which clause covers loss from the cargo being lost or damaged during transit and typically terminates when goods reach the consignee's warehouse?
The warehouse to warehouse clause provides this cover. It protects cargo from the time it leaves the seller's warehouse until it arrives at the consignee's warehouse, whereas subrogation, contribution and co-payment concern recovery, sharing or cost-sharing.
- AWarehouse to warehouse clauseCorrect
- BSubrogation clause
- CContribution clause
- DCo-payment clause
Explanation
The warehouse to warehouse clause covers goods from leaving the seller's warehouse until delivery at the buyer's destination warehouse, subject to limits. Subrogation and contribution deal with recovery and sharing among insurers, and co-payment is a health insurance cost-sharing feature.
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