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Why is marine insurance important?

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Why is marine insurance important?

Question is taken from Insurance subject

I got this question in an interview for job.

Other related questions to my question are:

Why is marine insurance important?

Why is marine cargo insurance important?

Why marine insurance is important in foreign trade?

What do you mean by marine insurance?

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Right answer is: Marine cargo insurance is a relatively inexpensive way for shippers to protect their goods from loss, damage or theft when it's under the care and custody of an ocean carrier. The most common policies are very cargo and shipment-specific.

The title of my answer can be Why Marine Cargo Insurance Is Essential Yet Often Overlooked

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