CMFAS CGI Marine Cargo & Hull Insurance question: marine hull policy

CMFAS CGIMarine Cargo & Hull Insurance

A marine hull policy characteristically deals with all of the following EXCEPT:

A The buyer's anticipated profit on the cargo being carried
B Collision liability, often through a running down clause
C Sue and labour costs to avert or minimise an insured loss
D Physical loss or damage to the ship from marine perils

Show the answer and explanation

Answer: A. The buyer's anticipated profit on the cargo being carried

Hull characteristically covers physical damage to the ship, collision liability, sue and labour costs and general-average/salvage contributions; the buyer's anticipated profit on the cargo is a cargo-side interest, not a hull exposure.

Common mistake

Overlooking that cargo profit is a cargo interest, not one of the hull policy's exposures.

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CMFAS CGI Marine Cargo & Hull Insurance question: marine hull policy

Answer: A. The buyer's anticipated profit on the cargo being carried

Common mistake

Related CMFAS CGI questions

CMFAS CGI Marine Cargo & Hull Insurance question: marine hull policy

Answer: A. The buyer's anticipated profit on the cargo being carried

Common mistake

Related CMFAS CGI questions