Marine Cargo Insurance refers to the insurance of goods shipped from one place to another, anywhere in the world.
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General Insurance
Marine Cargo Insurance refers to the insurance of goods shipped from one place to another, anywhere in the world.
Marine Cargo Insurance refers to the insurance of goods shipped from one place to another, anywhere in the world. Coverage is usually effected on a “per voyage” basis i.e., from the time the goods leave the premises of the seller until the time they finally arrive at the buyer’s premises. There is no period specified in the policy.
Coverage can either be effected by the buyer or the seller depending on the contract of sales. There are different types of recognised Sale Contracts, the most common affecting Marine Insurance are:
F.O.B. (Free On Board)
It is the seller’s obligation to place the goods on board vessel at his own expense and obtain the Bill of Lading. He (the Seller) is also responsible for all loss or damage until goods are on board vessel. Thereafter the good’s are at buyer’s risks.
C & F (Cost and Freight)
Seller provides goods with all freight and other charge paid to the port of discharge but does not include insurance charges. He (the Seller) is also responsible for the loss or damage to goods until delivery on to the carrying vessel but it is the responsibility of buyer to arrange insurance.
C.I.F. (Cost, Insurance & Freight)
The Seller undertakes to arrange and pay for all costs of delivering the goods and insurance up to final destination because the buyer has paid for these in the sale price. The insurance policy is assigned to the consignee and he can claim under the policy as though he had arranged the insurance himself.
SUMMARY CHART - RISK COVERED/EXCLUDED
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RISKS |
CLAUSE A |
CLAUSE B |
CLAUSE C |
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Fire & Explosion |
ü |
ü |
ü |
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Vessel/craft stranded, grounded, sunk or capsized |
ü |
ü |
ü |
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Overturning or derailment of land conveyance |
ü |
ü |
ü |
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Collision or contact of vessel, craft or conveyance with external object other than water |
ü |
ü |
ü |
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Discharge of cargo at port of distress |
ü |
ü |
ü |
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Earthquake, volcanic eruption or lightning |
ü |
ü |
? |
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General Average sacrifice |
ü |
ü |
ü |
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Jettison / Washing Overboard |
ü |
ü |
ü |
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Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, liftvan or place of storage |
ü |
ü |
? |
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Loss of any package lost overboard or dropped whilst loading onto or unloading from vessel or craft |
ü |
ü |
? |
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General Average & Salvage Charges |
ü |
ü |
ü |
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Pirates, thieves & non-delivery |
ü |
? |
? |
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ü Risks Covered |
? Risks Excluded |
Houseowner / Householder Insurance
The houseowners policy is designed to provide cover for the BUILDINGS of Private Dwellings and Flats whilst the householders insurance provides cover for the CONTENTS within the Private Dwelling.
Houseowner / Householder Insurance
1. Scope of Cover
The coverage provided is divided into the following sections:
SECTION 1
loss or damage caused by:
Section 2
2. Sum insured
In respect of building, the amount insured should represent the market value of the property insured. However, if it is insured on reinstatement value basis, the amount insured should represent the cost of reconstruction.
Medical Insurance
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Protect yourself against the rising cost of medical treatment |
Medical Insurance
Medical Insurance prepares you for the costly expenses and ensures comprehensive coverage in medical, surgical & hospital costs, ambulance fees and other related medical charges.
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You can be assured that you are constantly protected throughout your trips by contacting us for your Travel Insurance. |
