ZIMSEC O Level Commerce Notes: Certificate of insurance
Certificate of insurance
- Provides proof that the goods being transported have been insured.
- Has to be produced when making a claim to the insurance company, if a risk insured against has occurred.
- Can be an open (floating) insurance policy.
- To cove all exports within a stipulated period of time.
- To avoid individual cover for each consignment.
- Accompanies the goods being transported.
- Required as part of documentary credit.
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