Now largely replaced by (refer to) relevant institute cargo clause, it is a provision to share risk, damages and expenses incurred in proportion to the value of exposed cargo. It is a contract between the cargo owner and the ship owner. Shipper marine insurance is independent of the insurance coverage bought for the cargo. It typically covers damages or expenses from direct harm to the ship and/or its cargo. It also covers a course of action to prevent initial or additional harm to both ship and cargo.