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Marine Cargo Insurance

Marine Cargo insurance provides protection for loss of or damage to your cargoes during the course of transit from one place to another in the world.

Coverage is usually effected on a “per voyage” basis and can either be effected by the buyer or the seller depending on the contract of sales.

Different types of insurance coverage are provided for cargoes carried by different mode of transportation :

Shipment by Vessel

The usual insurance clause available are :

  1. Institute Cargo Clauses (A)
    1. It covers all fortuitous loss of or damage to the interest insured
    2. It covers general average and salvage charges
    3. to indemnify the Assured against the proportion of liability under the contract of affreightment “Both to Blame Collision Clause” as is in respect of a loss recoverable hereunder.
  2. Institute Cargo Clauses (B)

    It covers loss of or damage to the interest insured attributable to :

    1. fire or explosion
    2. vessel or craft being stranded grounded sunk or capsized
    3. overturning or derailment of land conveyance
    4. collision or contact of vessel craft or conveyance with any external object other than water
    5. discharge of cargo at a port of distress
    6. earthquake volcanic eruption or lightning
    7. general average sacrifice
    8. jettison or washing overboard
    9. entry of sea lake or river water into vessel craft hold conveyance container lift van or place of storage
    10. total loss of any package lost overboard or dropped whilst loading on to, or unloading from, vessel or craft
  3. Institute Cargo Clauses (C)

    It covers loss of or damage to the interest insured attributable to :

    1. fire or explosion
    2. vessel or craft being stranded grounded sunk or capsized
    3. overturning or derailment of land conveyance
    4. collision or contact of vessel craft or conveyance with any external object other than water
    5. discharge of cargo at a port of distress
    6. general average sacrifice
    7. jettison

Sending by Air

The cover given is similar to that of shipment by vessel except that there is only one type of insurance clause available. Unlike shipment by sea where we have the A, B or C Clauses, shipment by air only have the Institute Cargo Clauses (Air).

Inland Transit

This insurance will be subjected to the Overland Transportation Cargo Insurance Clauses which covers total or partial loss of or damage to the insured goods caused in the course of transportation by natural calamities – windstorm, lightning, earthquake, flood etc. or by accidents – collision, overturning or derailment of the conveyance, including grounding, stranding, sinking or collision of the craft in case crafts are employed, and/or collapse of tunnel, landslide, fire and explosion.

Sending by Post and/or Courier Service

The shipment by post and/or courier service can be sent by any mode of transportation (sea, air or land). In any case, the clause ‘Mail and/or Parcel Post/Courier Service Clause’ will be applied.

Tractor and Trucker Owner's Cargo Liability Insurance

This type of insurance is effected by the Carrier’s or the Transport Company to protect their own interest that is, their legal liability based on negligence liability principle and/or their contractual liability for loss of or damage to cargoes carried by them.

General Exclusions for all Clauses

Insuring Terms


* The information contained in this website is a general summary. All terms and conditions are set out in the policy.