CII M98 Practice Questions - CII M98 - Marine Hull And Associated Liabilities Exam

What is the main structural difference between a time policy and a voyage policy for marine hull insurance?

A time policy attaches for a specified period of time (e.g. 12 months), whereas a voyage policy covers a specific transit between named ports A time policy covers cargo only, whereas a voyage policy covers hull and machinery A time policy is illegal under UK marine insurance law A voyage policy cannot include an agreed value clause

Correct Answer:

A time policy attaches for a specified period of time (e.g. 12 months), whereas a voyage policy covers a specific transit between named ports

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