What is Marine Cargo insurance?
Marine cargo policy protects the insured against losses incurred following loss and /or damage to the goods whilst in transit as imports or exports.
Usually cover is against all risks subject to certain exclusions depending on the description of goods and packaging.
What is the coverage?
According to marine institute cargo clause A marine cargo insurance provides coverage of the following:
– Risks Clause
– General Average Clause
– “Both to Blame Collision” Clause
– General Exclusion Clause
– Unseaworthiness and Unfitness Exclusion Clause
– War Exclusion Clause
– Strikes Exclusion Clause