MARINE CARGO

Introduction

Goods in transport Insurance covers all individuals and merchants involved in imports and exports, including those engaged in transit trade.

The policy covers

The loss or damage to goods during their transport by sea, air or land as a result of insured risks. Insured risks are offered in the form of coverage packages (Institute Cargo Clauses A, B and C)

The contract is addressed

To individuals and merchants engaged in import and export, including those engaged in transit trade.

The policy is offered

• Specific Voyage – to cover only a specific single trip. The cover ends when goods reach their destination.
• Open Cargo Policy – An open cargo policy is an agreement whereby the insurer will accept insurance of all shipments made by the assured, within the terms of the cover for a fixed period. As the above is not a policy, Certificates of Insurance are issued against the declaration made by the assured.

The open cover is of great convenience to the client engaged in regular import/export trade.

Covers

Loss or damage to goods during carriage as a result of perils insured under Institute Cargo Clauses A,B and C cover packages

Institute Cargo Clause C covers

Fire or Explosion

Grounding, impact, sinking or overturning of the ship

Overturning or derailment of the land vehicle

Collision or contact of a ship or other means of transport with an object other than water

Unloading the goods at a port of refuge

General Breakdown Sacrifice

Forced / willful throwing of goods into the sea

General Breakdown and salvage expenses

Conflict of shared fault Coverages

Institute Cargo Clause Β covers

What Clause C covers

Earthquake, volcanic eruption, lightning

Inflow of sea, lake or river water into ship, container or storage area

Grabbing by waves

Total loss of parcel due to escape from ship deck or falling during loading to or unloading from ship

Institute Cargo Clause A covers

What Clauses B and C cover

Any other loss or damage resulting from a sudden and unforeseeable event not excluded

Additional Coverages

Without a particularly high cost, the contract is extended with two more clauses:

Loss or damage as a result of war

Loss or damage due to disturbance or strike

Clarification

The above information may vary from one Insurance Company to another. Depending on the insurance policy that will be proposed to you, you will get all the relevant information you need, so that you can decide on your own choice. Request our offer today. Based on your own insurable needs and budget, we will choose the right covers for you.