Institute Cargo Clauses in Marine Cargo Insurance Institute cargo clauses come embedded in a marine insurance policy that covers cargo in transit. These clauses are there to specify what kind of items covers in the cargo in case of any loss or damage to the shipment. It is interesting to note; the institute cargo clause […]
Articles Tagged: Cargo Insurance
Why do You Need Marine Insurance Policy?
Insurance is needed to maintain the financial integrity of your life and business. Hence, we need a marine insurance policy. Marine insurance, by this definition, will be needed if the risks you seek cover from are related to marine activities, such as: Transportation through oceans and waterways The building, maintaining or operating of water-going vessels, […]
What are the types of marine insurance?
There are several types of marine insurance policies available to cover the various risks associated with marine transportation. These policies mainly include Hull Insurance, Machinery Insurance, Cargo Insurance, Freight Insurance, P&I Insurance, War Risk Insurance, Builders’ Risk Insurance, Offshore Energy Insurance: Hull and Machinery (H&M) Insurance are types of marine policy that together cover damage […]
Marine Hazards Every Exporter & Importer Should Worry About
The marine industry serves as an important connection bridge in international trade, and the cargo vessels are the most efficient, and probably the only means to transport large volumes of finished goods and commodities. In a global economy, bulk carriers are crucial, as they cover a huge range of products. For instance, Coal, Sulphur, Cement, […]
What is Inland Transit Clause A in marine insurance?
When navigating the intricacies of marine insurance, it is crucial to understand what is Inland Transit Clause A in marine insurance. Let’s delve into what’s an Inland Transit Clause A in marine insurance and how it safeguards goods during their overland transportation. Inland Transit Clause A is a crucial component of marine cargo insurance, safeguarding […]