Marine

Marine Cargo

Perils covered for Exports & Imports shipments are as follows:

Institute Cargo Clauses – A covers additional risk in addition to what is covered under ICC – B.

• Theft, Pilferage, Non Delivery
• Fresh water damage
• Leakage/ Breakage
• Sweat / Taint
• Country damage

Any other Risk Insurer accepts to include.

Institute Cargo Clauses – B covers additional risk in addition to what is covered under ICC -C

• Washing Overboard
• Lightening, Earthquake, Volcanic Eruption
• Entry of Sea Water

Total loss of Package while Loading/Unloading

• Washing overboard
• 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

• Discharge of cargo at a port of distress,

General Average Sacrifice.

Jettison.

Perils covered for domestic shipments are as follows:

Inland Transit Clause (A) or ITC (A) covers the additional risk in addition to what is covered under ITC – B.

• Non delivery of the entire consignment
• Theft & Pilferage
• Fresh &/or rain water damage

Damage by Hooks, Nails, Oil, Chemicals, Acids & other extraneous substances

Inland Transit Clause (B) or ITC (B) covers the additional risk in addition to what is covered under ITC – C

• Breakage of Bridge

Collision with or by the vehicle.

Overturning of the carrying vehicle.

Derailments or accidents of like to the carrying railway wagon/vehicle.

Inland Transit Clause(C) or ITC(C): Loss or damage due to

• Fire
• Lightning

Marine Hull

Marine Hull Insurance covers physical loss or damage to the hull and machinery which constitute the ship itself. Ships of different type and trade need different consideration when it comes to the scope and terms of H&M insurance.