Marine Cargo

Marine Cargo

Indemnifies and reimburse for the any loss or damage to their cargo while in transit.

An insurance policy to protect your goods while being transported from one place to another. It indemnifies and reimburses the Insured &/or the Buyer for any loss or damage to their cargo while in transit.

The policy covers the goods while they are being transported over sea, air and land (includes parcel post and by courier service).

We underwrite a variety of cargoes such as:

  • General Cargoes loaded in Full Container Load &/or Less Container Load, etc.
  • Bulk shipments of liquid like oil and petrol-chemical, break-bulk &/or loose cargoes of coal, iron ore and steel products, etc.
  • Insurance coverage can be arranged on either “Single voyage” or “Open cover” basis.
  • Scope of risk coverage

Institute Cargo Clauses A (ICC A)

Theft, pilferage and non-delivery

Rough handling

Piracy

Perils covered under ICC B & ICC C

Institute Cargo Clauses B (ICC B)

Washing overboard. Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, lift van or place of storage

Earthquake, volcanic eruption or lightning

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

Perils covered under ICC C

Institute Cargo Clauses C (ICC C)

Fire or explosion

Vessel/craft being stranded, grounded, sunk or capsized

Overturning or derailment of land conveyance

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

Local delivery by land

Fire or explosion

Overturning or derailment of land conveyance

Collision or contact of conveyance with any external object