Marine Insurance Certificate
Definition - What does Marine Insurance Certificate mean?
A marine insurance certificate is a document that an insured gives to the shipper responsible for their cargo or any other shipping-related activity. It certifies that the cargo is insured while in transit and is supported by a copy of an insurance policy.
It is also called a special cargo policy or a cargo insurance certificate.
Insuranceopedia explains Marine Insurance Certificate
The certificate is for an open policy (or open cover) insurance. The open policy specifies a period of time that the marine business of the insured will be covered by an insurer when they ship their cargo to a specific shipper or carrier. In other words, it notifies the shipper that the shipping activity is insured.
While the certificate is issued by the insured, it is supported by a copy of the insurance policy from the insurer or such a copy will soon be forwarded.
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