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What do you mean by freight insurance in context of marine insurance ?

Solution

Freight insurance means that insurance which provides protection against the loss of freight. In many cases, the owner of the goods the freight only when goods are delivered safely at the port. If the ship is lost on the way, or cargo is damaged or stolen, then the shipping company loses its freight.
To guard against the risk of losing freight, the freight interest is undertaken.

Some More Questions From Business Services Chapter

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