Marine Cargo Insurance (Voyage Risks) - customer

Marine Cargo Voyage Risks
Cover Provided
Institute Cargo Clause ‘C’ |
Institute Cargo Clause ‘B’ |
Institute Cargo Clause ‘A’ |
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• Fire & Explosion |
All covers of ICC ‘C’ plus: |
All covers of ICC ‘B’ plus all other losses not otherwise excluded |
Common Clauses |
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• Institute War & Strikes Clause |
The basis of valuation depends on the trade terms. INCOTERMS defines the above three important types.
Duration
Marine cargo is covered on a ‘voyage’ basis. If regular shipments, an ‘Open’ cover can be arranged.
• ‘Location to Location’ can be:
- Port (of origin) to Port (of destination)
- Warehouse (of origin) to Warehouse (of destination)
- Port (of origin) to Warehouse (of destination)
- Warehouse to Port (of origin)
• Standard is ‘Warehouse to Warehouse’