Arkansas Insurance Adjuster Practice Exam

All of the following are types of Cargo Coverage in Ocean Marine insurance, EXCEPT:

1. Floating, Open or Long Term

2. All Risk Form

3. Single Risk Form

4. Warehouse-to-Warehouse

The correct answer is: All Risk Form

In the context of Cargo Coverage in Ocean Marine insurance, the options presented represent various forms of coverage. The All Risk Form, often referred to in marine insurance as a type of comprehensive coverage, typically covers loss or damage to cargo from any cause except for specified exclusions. However, this is not categorized under traditional types of Cargo Coverage, which include specific conditions or arrangements for the transit of cargo. Floating, Open or Long Term coverage, Single Risk Form, and Warehouse-to-Warehouse coverage are recognized types of Cargo Coverage arrangements that specifically delineate the scope of coverage based on the nature of the cargo, the duration of coverage, or the specific transport route. By identifying the All Risk Form as not being a type of Cargo Coverage, it emphasizes the distinction between broad coverage options and the specific categories used in marine insurance practices.