The concept of marine insurance emerged long ago—well before other forms of insurance—when the early Phoenicians and later the Romans developed systems to protect sea voyages. The roots of modern cargo and marine insurance trace back to the famed Lloyd’s coffeehouse, which evolved into one of the world’s leading insurance institutions.

Marine insurance covers hulls of all kinds of vessels as well as cargo transported by sea, air, and land.

Takaful Insurance Company offers marine-insurance coverage to both public- and private-sector clients through its Marine Insurance Department, branches, and offices across Libya.

Marine-cargo policies insure goods moved by sea, land, or air from the designated point of departure to the final destination. Coverage is provided at graduated levels—Conditions A, B, C, and domestic transit—depending on the breadth of protection required.

In general, these policies cover loss, damage, or shortage that may affect cargo during the voyage. Additional clauses are available for domestic-transit risks, war risks, and risks arising from riots or strikes.