Marine Cargo Insurance

  18-05-2016


Cargo Insurance covers loss and/or damage during the movement of cargo in international or domestic trade. Goods may be transported by sea, air or land. Policies and coverage are tailored to clients' needs.

Scope of cover
Under the (Institute Cargo Clauses (ICC 1/1/1982, the Insured can chooses suitable conditions for their goods, as

follows:SUMMARY CHART - RISK COVERED/EXCLUDED

Fortuitous Risks

ICC (A)

ICC (B)

ICC (C)

Fire or explosion

V

V

V

Vessel or craft being stranded grounded sunk or capsized

V

V

V

Overturning or derailment of land conveyance

V

V

V

Collision or contact of vessel craft or conveyance with any external object other than water

V

V

V

Discharge of cargo at a port of distress

V

V

V

Earthquake volcanic eruption or lightning,

V

V

X

General average sacrifice

V

V

V

Jettison or washing overboard

V

V

V

Entry of sea lake or river water into vessel craft hold conveyance container liftvan or place of storage,

V

V

X

Total loss of any package lost overboard or dropped whilst loading on to, or unloading from, vessel or craft.

V

V

X

General average and salvage charges

V

V

V

Piracy, thief, pilferage and non-delivery....

V

X

X


V : covered risks; X: uncovered risks