Concept:The correct policy is marine insurance, which is required for sea-borne cargo in international trade.
Explanation:Goods involved in international trade are mostly transported by sea.
During the voyage, cargo can face perils such as rough weather, sinking, fire, robbery, or damage to the vessel.
Marine insurance is a contract that provides financial protection for ships, cargo, and freight against these sea risks.
It is considered compulsory because traders and importers must ensure that every consignment passing through the sea is protected.
Without marine insurance, a shipper could bear huge losses if the goods are lost or damaged at sea.
Aviation insurance covers goods sent by air, while life assurance covers human life, so both are not relevant here.
Answer:Marine Insurance (Option C).