All types of Marine Cargo Import and Export Insurance

Institute Cargo Clause (C)

Coverage:

1. This insurance covers, excepts as provided in Clauses 4, 5, 6, and 7 of Institute Cargo Clause (C).
1.1 Loss or damage to the subject-matter insured reasonably attributable to
1.1.1 Fire or Explosion
1.1.2 Vessel or craft being stranded grounded, sunk, or capsized
1.1.3 Overturning or derailment of land conveyance
1.1.4 Collision or contact of vessel craft or conveyance with an external object other than water
1.1.5 Discharge of cargo at a port of distress
1.2 Loss of or damage to the subject-matter insured caused by
1.2.1 General average sacrifice
1.2.2 Jettison
2. This insurance covers the general average and salvage. Charges, adjusted or determined according to the contract of affreightment and/or the governing law and practice, incurred to avoid or in connection with the avoidance of loss from any cause except those excluded in clauses 4, 5,6, and 7 or elsewhere in this insurance.
3. This insurance is extended to indemnify the assured against such proportion of liability under the contract of affreightment “Both to blame collision” Clause as is in respect of a loss recoverable hereunder in the event of any claim by shipowners under the said clauses the Assured agree to notify the Underwriters who shall have the right, at their own cost and expense, to defend the Assured against such claim.

Institute Cargo Clause (B)

Coverage:

1. This insurance covers, excepts as provided in clauses 4, 5, 6, and 7 of Institute Cargo Clause (B).
1.1 Loss or damage to the subject-matter insured reasonably attributable to
1.1.1 Fire or Explosion
1.1.2 Vessel or craft being stranded grounded, sunk, or capsized
1.1.3 Overturning or derailment of land conveyance
1.1.4 Collision or contact of vessel craft or conveyance with an external object other than water
1.1.5 Discharge of cargo at a port of distress
1.1.6 Earthquake volcanic eruption or lightning
1.2 Loss of or damage to the subject-matter insured caused by
1.2.1 General average sacrifice
1.2.2 Jettison or washing overboard
1.2.3 Entry of sea lake or river water into vessel craft hold conveyance container liftvan or place or storage.
1.3 Total loss of any package lost overboard or dropped whilst loading onto. Or unloading from, a vessel or craft.
2. This insurance covers general average and salvage charges, adjusted or determined according to the contract of affreightment and/or the governing law and practice, incurred, to avoid or in connection with the avoidance of loss from any cause except those excluded in clauses 4, 5,6 and 7 or elsewhere in this insurance.
3. This insurance is extended to indemnify the Assured against such proportion of liability under the contract of affreightment “Both to blame collision” Clause as is in respect of a loss recoverable hereunder. In the event of any claim by shipowners under the said clauses, the Assured agree to notify the Underwriters who shall have the right, at their own cost and expense, to defend the Assured against such claim.

Institute Cargo Clause (A)

Coverage:

1. This insurance covers all risks of loss or damage to the subject insured except as provided in clauses 4, 5, 6, and 7 of Institute Cargo Clause (A).
2. This insurance covers general average and average and salvage charges, adjusted or determined according to the contract of affreightment and/or the governing law and practice, incurred, to avoid or in connection with the avoidance of loss from any cause except those excluded in clauses 4, 5,6 and 7 or elsewhere in this insurance.
3. This insurance is extended to indemnify the Assured against such proportion of liability under the contract of affreightment “Both to blame collision” Clause as is in respect of a loss recoverable hereunder. In the event of any claim by shipowners under the said clauses, the Assured agree to notify the Underwriters who shall have the right, at their own cost and expense, to defend the Assured against such claim.

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