Marine Cargo Insurance

Product information

Marine Cargo Insurance

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What it gives you

Features of Marine Cargo Insurance

It provides you with indemnity and financial protection for loss of or damage to your cargo.

INSTITUTE CARGO CLAUSE (A)

Risk
Covers all risk of loss of or damage to the subject matter, unless excluded by the provisions of clauses
General Average
Covers general average and salvage charges
Both to Blame Collision Clause
This insurance indemnities you for any risk insured herein, against liability incurred under any Both to Blame Collision Clauses in the contract of carriage

INSTITUTE CARGO CLAUSE (B)

Risk

Covers loss or damage to the subject-matter insured reasonably attributable to:

fire or explosion
vessel or craft being stranded grounded sunk or capsized
overturning or derailment of land conveyance
collision with any external object
jettison or washing overboard
entry of water into vessel

How much the premium is

Sample of calculation

The premium rates will be depending on:

Sum Insured
Freight cost
Other factors

There are four insurance conditions that are mostly used in marine insurance:

Institute Cargo Clause AIR I
nstitute Cargo Clauses "A"
Institute Cargo Clause "B"
Institute Cargo Clause "C"

Your premium may vary, depending on:

Our underwriting requirements

What we don’t cover

Willful misconduct
Inherent vice
Ordinary leakage
Insolvency or financial default
War

Note: This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.

Important information

This is general information and is not an insurance contract/agreement. Detail terms and conditions will be referred to the policy. It is crucial that you read and understand the policy's terms and conditions well.