Marine Cargo InsuranceMarine Cargo insurance covers your importation, either on the waterways, or goods imported by air. An Open Cover policy will be arranged on your behalf if you import regularly where you will need to make actual declaration as they come in. If your importation is not regular, the cover can be granted on request.
A marine cover could be arranged either on an All Risk basis (clause A) or on Clause C basis.Institute Cargo Clauses ‘A’ incorporates warehouse to warehouse it provides “all risks” cover to the cargo from the warehouse of the country of origin until it reaches the warehouse of the country of final destination. It is never necessary to institute a separate Goods-In-Transit policy for the journey from the port of disembarkation to the final warehouse as Clause “A” has adequately provided cover for the inland risks.
Institute Cargo Clause ‘C’ provides cover for ‘total loss only’ following a catastrophe to the carrying vessel including a declaration of General Average.