Insurance Certificate

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An insurance certificate is a representation of the insurance policy taken out by the buyer or the seller (depending on the Incoterms) for a shipment.

• Blank insurance certificates are supplied by the insurer pre-signed and bearing the open policy number of the exporter. For an air shipment, an air way bill serves as an insurance certificate.

• For a sea shipment, an insurance certificate is issued as evidence of the existence of the marine insurance policy.

• The marine insurance policy is a contract between the insured and the insurer which defines the terms of the agreement between the insured and the insurer

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