Insurance coverage designed to fill the gap between what an importer would like to have covered under its open cargo policy and what is covered under its supplier's CIF or CIP coverage is called

Question

Quizplus · Accepted Answer

A Difference in Conditions coverage is used to fully cover a shipment when only a CIF or CIP is required.A Constructive Total Loss Coverage clause essentially specifies that the insurer will reimburse the shipper for goods that have been abandoned after a stranding or a sinking; a Sue and Labor clause directs the insured to protect the cargo from further damage when a loss occurs; and an Inchmaree clause covers damage from burst boilers and errors in navigation and seamanship.

Insurance Coverage Designed to Fill the Gap Between What an Importer