Introduction
Trade was one of the most important economic activities of the ancient civilization. Initially trade was mainly conducted on land .As the scope of the activity expanded with time, another mode of transportation; water transport started to become gradually important and started to attract the attention of commercial enterprises. As this mode of transport became more important, there arose a need for the formulation of insurance scheme to protect the water vessels, the passengers, and cargo for the various risks that they faced in this transport mode. Marine insurance is therefore one of the oldest forms of insurance that has ...
