Cargo Insurance
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1. Product OverviewIt is insurance that compensates for the loss of cargo suffered by the Assured due to an unexpected accident during the transportation of the cargo in accordance with the terms of the contract.
Cargo insurance is not period insurance, but voyage insurance. Therefore, of course, compensation is only possible for insurable accidents that accompany the transport voyage.
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2. Company Who needs this policyClients who need insurance during courses such as maritime, air, and land transportation
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3. Major compensating damages
In general, we offer All Risk cover, unless it is excluded risk, and the terms and conditions may limit the coverage in the policy.
Old Testament – ICC (A/R), ICC (W/A), ICC (FPA)
New Testament – ICC(A),ICC (B), ICC (C)
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4. Exclusion
loss damage or expense caused by insufficiency or unsuitability of packing or preparation
loss damage or expense caused by inherent vice or nature
loss damage or expense caused by delay
Indirect loss
Radioactive weapons
loss damage or expense attributable to the wilful misconduct of the Assured
ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
loss damage or expense caused by insolvency or financial default
unseaworthiness of vessel or craft or unfitness of vessel or craft
caused by strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions