Continuing the introductory function within PART I of the book, this chapter focuses on the principal subject of the book-Insurance of International Sales Contracts. It does so by providing a summary insurance generally and the applicable marine insurance in particular. It questions whether insurance is a luxury or a necessity in commercial transactions generally and international trade in particular. It also explains the origin and nature of parties’ varying insurance obligations. The chapter then discusses: the role of insurance in the allocation of risks; the assumption of its ease in FOB and complexity in CIF contracts respectively; progressive development of Incoterms’ insurance clauses; insurance principles applicable to Incoterms contracts; limitations of Incoterms insurance clauses; the “minimum” insurance requirement problems; parties’ policies and loss reliefs; air and aviation export policies; export credit insurance; other state supported policies; and principal, hybrid, alternative and subsidiary policy documentation. Like the above and all the remaining chapters, the chapter contains materials on “Further Food for Thoughts”, reference sources used, further readings, and “What readers and practitioners should watch out for”, especially in Incoterms contracts’ “No Insurance Obligation”, clauses to guide the reader.