Unit12 Insurance课件.pptVIP

Terms involved the insurant / insured/assured The party that buys insurance (exporter/importer) the insurer The party undertaking to indemnify the insurant against losses or damages (PICC) the claimant The claimant may not necessarily be the insurant the insurance policy - The contract made between the insurer and the insured the insured amount - The amount covered against the subject matter ( which is usually the amount of 110% of CIF value of the consignment) premium - The sum of money the insured agrees to pay the insurer for an insurance policy Marine Risks Two types of risks