In this chapter:
(1) “Insurable property and interests” includes:
(A) goods, freights, and cargoes;
(B) merchandise;
(C) effects;
(D) disbursements;
(E) profits;
(F) money, bullion, and precious stones;
(G) securities;
(H) choses in action;
(I) evidences of debt;
(J) valuable papers; and
(K) bottomry and respondentia interests.
(2) “Marine insurance” means:
(A) insurance and reinsurance that covers:
(i) loss or damage to:
(a) a hull, vessel, or craft of any kind, an aid to navigation, a dry dock, or a marine railway, whether complete, under construction, or awaiting construction; or
(b) insurable property and interests in respect to, appertaining to, or in connection with a risk or peril of navigation, transit, or transportation:
(1) on or under a sea, lake, or river or other water, in the air, or on land in connection with or incident to export, import, or waterborne risks;
(2) while being assembled, packed, crated, baled, compressed, or similarly prepared for shipment;
(3) while awaiting shipment; or
(4) during any delay, storage, or transshipment or reshipment incident to the initial shipment;
(ii) a marine builder or repairer risk;
(iii) a marine protection or indemnity risk; or
(iv) a war risk regarding any insurable property or interest described by this section; and
(B) insurance defined as marine insurance by another statute, lawful custom, or rule adopted by the commissioner.