Marine Cargo Insurance
The policies primarily aim at providing in respect of loss, damage or destruction to the subject matter of insurance i.e Hull, Cargo and freight caused by perils of the seas or maritime perils like fire, theft, jettison, collision, contract, heavy, weather, stranding/foundering sinking war perils.
Marine Hull
This refers to the ship, that is to say, hull and machinery of the vessel. The ship is always at the risk of the perils of the seas and therefore, the ship owner can insure it again probable loss as such.