1. Cargo Insurance – insures transportation by land, water and air as well as by parcel post, which again can be divided into three (3) types:

• Inland Transit Insurance
• Overseas Transit Insurance of three types:
• Institute Cargo Clauses (A), (B), (C)

2. Hull Insurance – covers loss and damage of hulls, machinery and shipping equipment incurred by storms, vessels running aground, fire and shipwreck.