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A marine insurance is a contract of ____________.

  • A marine insurance is a contract of Indemnity.
  • Marine insurance is a type of insurance that provides coverage for loss or damage to ships, cargo, and other property involved in maritime transport.
  • Like most other forms of insurance, marine insurance is considered a contract of indemnity.
  • In the context of insurance, a contract of indemnity is a contract that provides for the reimbursement of losses suffered by the insured party.
  • Under a contract of indemnity, the insurance company agrees to compensate the insured for any losses or damages that they suffer as a result of an insured event.
  • In the case of marine insurance, the insurance company agrees to compensate the policyholder for any losses or damages that they suffer as a result of events such as shipwrecks, piracy, or damage to cargo.