Zubair Company exports RO 20000 worth of goods to India through a ship insured for the same value. The ship got fire due to engine fault in the middle of the transit and all the goods destroyed. Which of the following insurance will cover the losses?

a.

Builders Insurance

b.

Fire insurance

c.

Auto insurance

d.

Marine insurance

The situation where the benefits of insurance policy gets terminated due to non-payment of premium is called:

a.

Terminate

b.

Dormant

c.

Surrender

d.

Lapse