Marine Insurance Certificate
What Does Marine Insurance Certificate Mean?
A marine insurance certificate is a document provided by the insured to the shipper responsible for their cargo or other shipping-related activities. It verifies that the cargo is insured during transit and is accompanied by a copy of the insurance policy.
This document is also known as a special cargo policy or a cargo insurance certificate.
Insuranceopedia Explains Marine Insurance Certificate
The certificate pertains to an open policy (or open cover) insurance. An open policy specifies a period during which the insured’s marine business is covered by the insurer for shipments to a designated shipper or carrier. In essence, it informs the shipper that the shipping activity is insured.
Although the certificate is issued by the insured, it is supported by a copy of the insurance policy from the insurer, which may either accompany the certificate or be forwarded shortly thereafter.
