Marine Cargo Insurance

Marine Cargo Insurance:

The marine cargo is normally insured under the standard coverage afforded by Institute of London Underwriters clauses known as Clause ‘A’, ‘B’ or ‘C’.

Clause A is the most comprehensive cover and subject to certain exclusions is known as “ALL RISK” cover, it typically covers loss or damage to cargoes arising out of typical perils of sea or air carriage to which a particular cargo may be exposed.

Clause ‘B’ is a named peril insurance and covers the loss of or damage to cargo reasonably attributable to following:

• Fire or explosion
• Vessel being sunk, grounded or capsized
• Collision of vessel or conveyance.
• Discharge of cargo at port of distress
• Earthquake, volcanic eruption or lightning
• Jettison or washing overboard, General Average
• Entry of sea lake or river water.
• Total loss of any package lost overboard or dropped loading or discharging.

Clause ‘C’ covers the loss of or damage to the subject-matter insured reasonably attributable to

• Fire or explosion
• Vessel being sunk, grounded or capsized
• Collision of vessel or conveyance.
• Discharge of cargo at port of distress
• Jettison or washing overboard, General Average

All policies are subject to certain conditions, terms and exclusions and therefore, please contact us for detailed understanding of the respective insurance.

Claims Reporting Procedure