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  Marine Insurance

Marine Insurance covers your shipments or consignments when transported by sea, air or land.

 

 

 

 

 

 

 

 

 

1-    BY SEA :

You can choose between the following types of covers :

 

* CLAUSE “C” :

Loss or damage reasonably attributable to :

                 - Fire or explosion

                 - Vessel or craft being stranded, grounded, sunk or capsized.

                 - Overturning or derailment of land conveyance.

                 - Collision or contact of vessel, craft or conveyance with any

                   external object other than water.

                 - Jettison.

 

* CLAUSE “B”:

Covers under Clause “C” plus :

                 - Washing overboard

                 - Entry of sea, lake or river water into vessel or craft.

                 -Total loss of any package lost overboard or dropped while

loading on to, or unloading from ,vessel or craft.

 

* CLAUSE “A”:

Its all Risks cover for loss or expenses except which due to :

                -  Inherent vice (loss caused by nature of the thing insured & not

                   the result of an external cause).

                -  Leakage.

                -  Wear & tear.

                -  Unsuitability of the packing.

 

2-    BY AIR

TOTAL LOSS : covering total loss of the goods following the total loss of carrying conveyance.

INSTITUTE AIR CARGO : “ ALL RISKS”

Covers all losses or damages of the insured cargo transported by air with the same exceptions than clause “A” above.

 

3-    BY LAND :

TRUCK CLAUSE : covers loss or damage to the transportation by truck or train due to :

  1. Fire.
  2. collision.
  3. Derailment.
  4. Road accident.

TRUCK CLAUSE “ALL RISKS”:

Covers all losses or damages of the insured cargo transported by train or truck with the same exceptions than Clause “A” above.

 

ADDITIONAL COVERS :

- War, Strikes, Riots & civil commotions clauses :

  Covers loss or damage due to war, strikes, riots & civil commotions. (This options could be added to all clauses.)

Non delivery :

Could only be added to clauses “B”, C’ , it covers the missing of one package or the whole container duly certified by carriers.

Marine Insurance FAQs
What to do in case of Marine Claim
What to do in case of Marine Claim

Assured or their Agents must:

1.Claim on the carriers and on the Port Authorities for any missing packages.

2.Apply immediately for survey in the docks by carries' representative if any loss or damage be apparent and claim on the Carriers for any actual loss or damage found at such survey.

3.In no circumstances give clean receipts where goods are in doubtful condition except under written protest.

4.Give notice in writing to the carries'representative within three days of delivery if the loss or damage was not apparent at time of taking delivery.

NOTE-The Consignees or their Agents are recommended to make themselves familiar with the regulations of the port Authorities in force at the port of discharge.

All correspondence with Carriers regarding their libality should be forwarded when submitting any claim to Underwriters.