Marine Insurance

Cargo Transit (institute cargo clauses)
Road Transit (Land transit)
Air Craft Transit

1- Cargo Transit (Sea):

Risks Covered in Clause "C" (Institute cargo clauses"C"):
This insurance covers:
» Loss or damage to the subject-matter insured reasonably attributable to :

  • Fire or Explosions.
  • Vessel or craft being stranded, grounded, sunk, or capsized.
  • Overturning or derailment of land conveyance.
  • Collisions or contact of vessel craft or conveyance with any external object other than water.
  • Discharge of cargo at a port of distress.

» Loss or damage to the subject-mater insured caused by:

  • General average sacrifice
  • Jettison.

Following covers can be added to clause C :

  • Non-delivery of whole container
  • Non-delivery of any shipping unite
  • Washing over board

Risks Covered in Clause "B" (Institute cargo clauses "B"):
Same covers with clause "C" in addition to:

  • Earthquake, volcanic eruption, or lightning
  • Jettison or washing overboard.
  • Entry of Sea Lake, or river water into vessel craft, hold conveyance, container, lift, van, or place of storage.
  • Total loss of any package lost overboard or dropped whilst loading on to, or unloading from, vessel or craft.

Risks Covered in Clause "A" ( institute cargo clauses "A"):
This insurance covers all risks of loss or damage to the subject-matter insured with exclusions:

  • General Exclusion Clause.
  • Unseaworthiness and Unfitness Exclusion Clause.
  • War Exclusion Clause
  • Strikes Exclusion Clause
  • Loss damage or expense arising from insolvency or financial default of the owners, managers, chatters or operators of the vessel
  • Deliberate damage to /or deliberate destruction of the subject-matter insured or any part thereof by the wrongful act of any person or persons.
  • loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.
2- Land Transit
  • Road Risk – Land Transit.
  • All Risk – Land Transit.
  • Road Risk:( as per land transit clause) This insurance covers Loss or damage to the

Subject-mater insured caused by or resulting from:

  • Fire
  • Crash or Overturning collision
  • Dropping out-derailment rail way gauges carriages
  • All Risks:(as per land transit clause)This insurance covers all risks of direct loss or damage the subject-matter insured and resulting from theft, total loss, and partial loss. Also, non delivery, fire, breakage, rain wetness, and goods to goods contiguity, overturning collision, crash.
3- Institute Cargo clause A (Transit by air).

Conditions are the same as Cargo Insurance (Sea).

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