A) Covers physical damage to ship or goods (marine hull), liabilities incurred to other parties (protection and indemnity), and loss of income (marine loss of income insurance).

B) Can be tailored to accommodate large commercial enterprises or private pleasure craft.

C) Warranty required (guarantee or promise) given by the insured to the insurer regarding the condition or use of the insured vessel.

D) Can be extended to include survey costs, water damage, debris removal, damage during loading/unloading process, war, strikes, etc for cargo.

E) May require declarations to adjust the premiums at the time of renewal.

F) International Cargo Clause A (hereinafter referred to as ICC), ICC B and ICC C provide different levels of coverage, with ICC A being the highest (an all-risks cover) and each lower level provides reduced cover for associated risks.