Distinguish between the following: Fire Insurance & Marine Insurance Basis of Difference Fire Insurance Marine Insurance Compensation Compensation is paid only in the event of loss due to fire. Nothing is paid otherwise. Compensation is paid only in the event of loss due marine perils. Nothing is paid otherwise. Duration It does not generally exceed one year. It is generally done for one year or for the period of voyage. Subject matter The goods and property of the person make the subject matter. The goods in ship, cargo and freight make the subject matter. Insurable interest Insurable interest must exist at the time of taking the policy and also at the time of receiving the claim. Insurable interest must exist at the time of receiving the claim or at the time of loss only.
Cinemugam is a popular source of entertainment news and updates focused on Tamil cinema and television.