Cargo Insurance
In recent years, we have been a leader among insurance brokers in providing Cargo insurance. With our experience and knowledge, we successfully guide and assist clients not only in policy procurement, but also in the claims settlement process.
The insurance covers losses or damages to cargo caused by hazards during transport by land, water, air or a combination thereof. Cargo can be insured for the duration of its transportation regardless of the vehicles. The insurance helps carriers and businesses to protect themselves from financial loss.
Covered risks are in accordance with the International Institute Cargo Clauses:
Institute Cargo Clauses “A” - “Full Coverage”
Covers loss or damage caused by:
- Fire or explosion
- Stranding, sinking or capsizing of a ship or vessel
- Overturning or derailment of a land conveyance
- Collision or contact of a ship, vessel or conveyance with any external object other than water
- Unloading of cargo at a port of distress
- General average
- Discharge of cargo at a port of distress
- Earthquake, volcanic eruption or lightning
- Damage from ingress of sea, river or lake water
- Total loss of any package lost overboard
- Total loss of any package dropped overboard during loading or unloading
- Breaking, crushing, scratching, denting, battering, etc.
- Theft
- Malicious damage
- Any damage from getting wet, including rain
Institute Cargo Clauses “B” - “Limited Coverage”
Covers loss or damage caused by:
- Fire or explosion
- Stranding, sinking or capsizing of a ship or vessel
- Overturning or derailment of a land conveyance
- Collision or contact of a ship, vessel or conveyance with any external object other than water
- Unloading of cargo at a port of distress
- General average
- Discharge of cargo at a port of distress
- Earthquake, volcanic eruption or lightning
- Damage from ingress of sea, river or lake water
- Total loss of any package lost overboard
- Total loss of any package dropped overboard during loading or unloading
Institute Cargo Clauses “C” - “Minimum Coverage”
Covers loss or damage caused by:
- Fire or explosion
- Stranding, sinking or capsizing of a ship or vessel
- Overturning or derailment of a land conveyance
- Collision or contact of a ship, vessel or conveyance with any external object other than water
- Unloading of cargo at a port of distress
- General average
- Discharge of cargo at a port of distress