| Cover ranges from the
basic ocean cargo policy covers perils of the sea such
as stranding, sinking, fire and explosion, as well as
perils on the sea including heavy weather, general average
contribution to all risks. |
 |
Cover is usually provided under the Institute Cargo Clauses "A", "B"
and "C" descending in scope of cover.
Additional cover against war and strikes are also available
under the Institute's wordings.
Institute Frozen Foods Clauses for refrigerated
cargo and other specific trade clauses i.e. Coal Clauses,
Bulk Oil Clauses, Timber Clauses are also available for
any specific requirements.
In addition, the interest of the Insured as sellers
of goods on FOB, C&F or other similar terms as the
result of loss or damage covered under the agreed clauses
can also be purchased under Seller's Interest Clause.
Other tailor-made wordings are available on request.
|
COMPARISON TABLE OF COVERAGE
UNDER INSTITUTES CARGO CLAUSES A, B & C
| COVERAGE
|
Institute
Cargo Clauses
|
|
A
|
B
|
C
|
| Loss or damage to
the subject-matter caused by: |
.
|
.
|
.
|
| 1.
Fire or explosion |
Yes
|
Yes
|
Yes
|
| 2.
Vessel or craft being stranded grounded sunk
or capsized or collision or contact of vessel craft
with any external object other than water.
|
Yes
|
Yes
|
Yes
|
| 3.
Overturning or derailment of land conveyance
|
Yes
|
Yes
|
Yes
|
| 4.
Discharge of cargo at a port of distress
|
Yes
|
Yes
|
Yes
|
| 5.
General average sacrifice |
Yes
|
Yes
|
Yes
|
| 6.
Jettison |
Yes
|
Yes
|
Yes
|
| 7.
Sue & Labour Charges |
Yes
|
Yes
|
Yes
|
| 8.
Earthquake, Volcanic Eruption or Lightning
|
Yes
|
Yes
|
No
|
| 9.
Washing overboard |
.
|
.
|
.
|
| 10. Total
loss of any package lost over board or dropped whilst
loading on to, or unloading from, vessel or craft.
|
Yes
|
Yes
|
No
|
| 11. Entry
of sea lake or river water into vessel craft hold
conveyance container lift van or place of storage
|
Yes
|
Yes
|
No
|
| 12. Rain
water |
Yes
|
No
|
No
|
| 13. Malicious
Acts |
Yes
|
No
|
No
|
| 14. Pirates
|
Yes
|
No
|
No
|
| 15. Theft
|
Yes
|
No
|
No
|
| 16. Other
accidental damage not falling under Exclusion Clause.
|
Yes
|
No
|
No
|
|
Inland
Transit & Marine
Cargo Insurance
