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Marine policy covering the shipment of textiles

Question: A shipper obtains a marine policy covering the shipment of textiles from China to Poland. The declared value of the shipment was $15,000 although the real (market) value of the merchandise was $7,500. If the goods are lost at sea, is the insurance company liable for $15,000? Why?

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Other Management: Marine policy covering the shipment of textiles

Reference No:- TGS01994937

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