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OBJECTIVES
After studying this unit, you should be able to :
1. describe the need of cargo insurance in international business;
2. explain various kind of perils covered by the cargo insurance policy;
3. explain various types of losses;
4. explain coverage under different policies;
5. describe the types of policies; and
6. Explain the procedures and documents for filing insurance claims.
TYPES OF LOSSES: Let us now discuss the extent of loss coverage provided in the insurance policy. For this purpose, you should first understand the mean of the term of "Loss".
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