Overview
Marine Insurance plays a crucial role in facilitating international trade by providing financial protection to parties involved in maritime commerce. It helps mitigate risks, promotes business continuity, and ensures the smooth flow of goods across the world’s oceans.
La Phenicienne Cargo Coverage include Physical loss or damage to freight from any external cause during shipping, whether by land, sea or air
By Sea
When it comes to marine insurance by sea, you have the option to select from three types of covers
Loss or damage reasonably attributable to:
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Fire or explosion.
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Vessel or craft being stranded, grounded, sunk or capsized.
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Overturning or derailment of land conveyance.
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Collision or contact of vessel, craft or conveyance with any external object other than water.
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Jettison.
This covers includes all the protections offered under clause C and extends the coverage to include the following additional:
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Washing overboard
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Entry of sea, lake or river water into vessel or craft.
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Total loss of any package lost overboard or dropped while loading on to, or unloading from, vessel or craft.
It’s all Risks cover for loss or expenses except which due to:
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Inherent vice (loss caused by nature of the thing insured & not the result of an external cause).
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Leakage.
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Wear & tear.
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Unsuitability of the packing.
By Air
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Total Loss:covering total loss of the goods following the total loss of carrying conveyance.
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Institute Air Cargo: “ALL RISKS”Covers all losses or damages of the insured cargo transported by air with the same exceptions mentioned in clause “A” above.
By Land
TRUCK CLAUSE:
covers loss or damage to the transportation by truck or train due to:
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Fire
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Collision
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Derailment
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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.
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 Hull Pleasure Boats insurance:
La Phenicienne’s Marine Hull and pleasure Boats offer comprehensive coverage for accidental loss or damage to your Boat, while also protecting your liabilities towards third parties