This Master Thesis was created because of great personal interest towards marine insurance as such ans cargo insurance in particular. The purpose of this work is to give a proper overview of three legal fields - Norwegian, English and Russian Law. Cargo insurance is of no doubts tremendously important nowadays. How often do people consider where the goods they use daily are coming from? Some tea from India, a new phone form Japan, household appliances from Germany. All these goods were made long distance from the point of final destination, and vessels are carrying them through the world. Cargo insurance has a long history, starting from the ancient Greece and Rome. From the Code of Hammurabi and Corpus Iuris Civilis human kind made a big step since then and so did the legislation. The Master Thesis is divided into two parts – a cargo insurance and a total loss respectively. In this Master Thesis three legal framework on marine insurance are to be discussed. Starting from the sources of law for each country, a brief overview of the legal systems will be given with examples of legislative acts, which are of much importance to the topic of the Thesis. Some of the sources of law, which are relevant for one country, bears no such a great importance for another as different legal system reacts and develops differently. An overview of that issue will be given. It will also be mentioned, that some of the legislative acts are not directly connected with the cargo insurance, but possess great scientific value for a better understanding of insurance market functioning. As all of the three countries have different history and different legal traditions, differences and similarities will be emphasized. A historical background will also be given, as it provides much more sufficient understanding of legislative and theoretical concepts, which are to be observed in this Master Thesis. Also an important overview of the tendencies on modern Russian legislation will be given with examples and quotations. After that a cargo insurance concept will be discussed. As marine cargo insurance is first of all a contract, a respective attention will be given to the parties of the contract, concluding a treaty, scope of cover and some other essential issues. For every country of interest by turns. It is necessary to mention, that due to many similarities it will not be repeated all over again for every country. On the contrary, different concepts, which are similar for two or all of the countries will be discussed once with the references to another country legislation. As the main topic of this Master Thesis is a concept of a Total Loss, partial losses and shortage will not be observed. Some important concepts like a constructive total loss will be thoroughly discussed, supported by the case law and provision of the legislative acts.