policy of sea insurance "policy of sea insurance"- (a) means any insurance, including re-insurance, made upon any ship or vessel, whether for marine or inland navigation, or upon the machinery, tackle or furniture of any ship or vessel or upon any goods, merchandise or property of any description whatever on board of any ship or vessel or upon the freight of or any other interest which may be lawfully insured in or relating to any ship or vessel; and (b) includes any insurance of goods, merchandise or property for any transit which includes, not only a sea risk under paragraph (a), but also any other risk incidental to the transit insured from the commencement of the transit to the ultimate destination covered by the insurance; ACT 378 - STAMP ACT 1949 (CONSOLIDATED AND REVISED 1989) 2. Interpretation.