This thesis discusses an important subject which is The Marine Insurance, the oldest type of insurance at all. The importance of it comes from the huge amounts of money invested in this aspect, that spent whether for the purchase of ships or goods. The evolution and development of trade, which is still going on, created an urgent need for the presence of continually renewed rules at the national and international level to organize this aspect and keep abreast with the developments. Accordingly, this paper is organized into an introductory chapter and three other chapters. In the introductory chapter I have addressed the historical background of the marine insurance and the importance and benefits of this type of insurance. In the second chapter I have discussed the concept of contract of marine insurance, and its characteristics, parties, how to prove it and its transfer from one party to another, as well as the properties insured (ships and goods). In the second chapter I have reviewed the risks covered by marine insurance and the dangers excluded. Finally, the last chapter of my thesis is the most important chapter because it talks about the effects of the contractual binding items on the parties of the contract of insurance, the insurer and the insured, and obligations towards each other. I used a lot of references for this study, and comes on top of these references (Omani Maritime Law No. 35/81), because the thrust of my thesis is based on it. I have also relied on the oldest law of Marine Insurance which is the English Marine Insurance Act of 1906. It contains 94 items of rules and still is the main reference for the Marine Insurance to this day. It regulates insurance work in the sea from all its aspects. At the end of the paper I have made recommendations that I hope would serve the scientific research because the Oman Marine law No. 35/81 need to be modified in order to come up with the developments in the field of international maritime trade, and that there is a need for a special law to govern marine insurance by its own without depending on The Maritime law as a whole. I hope that through my thesis I managed to come up with something new and complementary to the studies that proceeded in the issues of marine insurance and will be of great help to the subsequent efforts.