Ocean Marine Rate Making

The subject of rating for Ocean Marine Insurance is a complex one. Also, the same complexities exist in Marine Insurance which, in addition to ocean carriage, embraces a considerable volume of true Marine Insurance in respect to vessels and cargoes operating not only on the Great Lakes but on other inland lakes and waters such as the McKenzie River System and the St. Lawrence River. To deal with the subject properly, it is essential to divide it into at least two major categories, i.e., Cargo Insurance and Hull Insurance.