This is a document protecting the beneficiary against risks which may occur during shipment of the goods from one point to another point. There are two main parties in an insurance policy: These are, the insurer (insurance company) and the insured (the party which has procured the insurance to be made or bear the insurance policy through endorsement). 

An insurance policy must cover the below items for reliability: 

     - The insurer

     - The insured

     - The beneficiary 

     - Subject of the insurance 

     - The Carrier company 

     - The carrying vehicle 

     - Period of carriage