"Cargo" and "freight" losses are the same thing in ocean marine insurance.

Question

Quizplus · Accepted Answer

Cargo refers to the goods being transported on a vessel, while freight refers to the amount charged for the transportation service. Cargo losses typically involve damage or loss of the actual goods being transported, while freight losses involve financial losses due to the failure to deliver the cargo or other issues with the transportation service.

"Cargo" and "Freight" Losses Are the Same Thing in Ocean