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  Home > Commercial Insurance  >  Cargo        
       
 
Overview 
Coverage's 
Exclusions 
 
BASIC COVERAGE'S
 

1      F.P.A (Free From Particular Average)

This condition does not covered partial loss of the goods/cargo, unless the vessels or craft be stranded, sunk, burnt or collided.

 

2      W.A (With Average)

Covers loss of or damage mentioned under F.P.A condition and also caused by heavy weather.

 

3      All Risks

This insurance is against all risks of physical damage to the goods/cargo caused by external and fortuitous events such as theft, breakage, non delivery, etc.

 

Also available coverage under:

>>       ICC (C) 1/1/82     -->  F.P.A

>>       ICC (B)   1/1/82   -->  W.A

>>       ICC (A) 1/1/82      -->   All Risks

 

EXTENDED COVERAGE'S

 

1      War Risks

War Risk in marine cargo insurance includes not only the risks caused by war like operations between nations but also the risks occurred by social disturbance such as civil war, rebellion or revolution. (Damages caused by use of nuclear weapons are excluded)

 

2      S.R.C.C. Risks

Institute Strikes, Riots and Civil Commotion Clauses cover physical losses or damages caused by strikers, locked-out workmen or persons taking part in labor disturbances, riots or civil commotion.

 

Note          :    The premium rate for War and SRCC is to follow the standard rate from The War Risks Rating Committee Cargo & Air, London (subject to changes any time).
 


   
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