Overseas Marine Cargo Insurance
Overseas marine cargo insurance provides indemnity for both the Total and Partial loss or damages caused to marine cargo that are transported by sea or air and can also be extended for connecting transit by land.
Product Highlights
Overseas Marine Cargo Insurance
Overseas marine cargo insurance provides indemnity for both the Total and Partial loss or damages to marine cargo that are transported by sea or air and can also be extended for connecting transit by land.
Coverage Options:
Overseas Marine Cargo Insurance can be tailored to specific needs using the following Institute Cargo Clauses (ICC):
Institute Cargo Clauses (A):
The most extensive coverage, offering broad protection against a wide range of risks during transit.
Institute Cargo Clauses (B):
Provides a more restricted level of coverage compared to Clause (A), covering fewer perils.
Institute Cargo Clauses (C):
Offers the most limited coverage, addressing a narrower scope of risks.
Premium Rate
Premium rate is calculated based on the cargo type, the route of transportation, transshipment, packing list and claim history.
Coverage & Benefits
What is covered
Insurance Eligibility
What can be insured
Marine Cargo Insurance covers the movement of physical goods from one location to another by various modes of conveyance, including:
By Sea: Container vessels.
By Air: Air freight.
By Road: Trucks.
Who can be insured
Cargo Owner (Buyer or Seller)
Freight Forwarder
Logistics Company
Period of Insurance
Coverage begins when goods leave the warehouse or place of storage for the commencement of transit, continues during the ordinary course of transit, and terminates upon delivery to the final warehouse.
