OCEAN MARINE CARGO COVERAGE is written to cover merchandise of every description against perils of the sea. The policy can be expanded to cover most forms of loss to which the property may be subject. The policy is almost always on an open basis, where all shipments are automatically covered and reported to the insurer as they are made. Insurance is usually extended to cover from the original point of shipment until arrival at the final destination and may apply to both imports and exports.
Related PF&M Article: Ocean Marine Cargo Insurance