According to the latest report by IMARC Group, titled “Marine Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026.’ the global marine insurance market reached a value of US$ XX Billion in 2020. A marine insurance policy provides financial coverage against losses and damages caused to ships, cargo vessels, and terminals during transportation. It is designed to minimize the financial loss borne by the policyholder in the event of an accident, catastrophe, or natural hazard. In recent years, insurers have been introducing various plans that cover mali…

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