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Marine Cargo Insurance


CargoMarine Cargo Insurance provides protection against loss of or damage to goods during domestic or international transit, whether by sea, air or road.

 

COVERAGE

 

Institute Cargo Clauses are widely adopted for marine cargo insurance.  The commonly used clauses for goods transit by sea are Institute Cargo Clauses (A), (B) or (C).  Clauses (A) is an “all risks” cover, providing protection against loss or damage of goods caused by any external causes, other than perils specially excluded in the clauses.  The coverage of Clauses (B) and (C) is more restrictive, it covers loss or damage caused by specified perils only。

 

Coverage of different Institute Cargo Clauses is summarized as follows:

 

 

Loss or damage caused by:

Institute Cargo Clauses

(A)

(B)

(C)

1.

Fire or explosion

ü

ü

ü

 

2.

Stranding, grounding, sinking or capsizing

ü

ü

ü

 

3.

Overturning or derailment of land conveyance

ü

ü

ü

 

4.

Collision or contact of vessel, craft or conveyance with any external object other than water

ü

ü

ü

 

5.

Discharge of cargo at a port of distress

ü

ü

ü

 

6.

Earthquake volcanic eruption or lightning

ü

ü

û

 

7.

Malicious damage

ü

û

û

 

8.

Theft or pilferage

ü

û

û

 

9.

General average sacrifice

ü

ü

ü

 

10.

Jettison

ü

ü

ü

 

11.

Washing overboard

ü

ü

û

 

12.

Entry of sea, lake or river water into vessel, craft, hold, conveyance container lift van or place of storage

ü

ü

û

13.

Total loss of any package lost overboard or dropped during loading or unloading to/from vessel or craft

ü

ü

û

 

14.

Any risks of physical loss or damage not specified

ü

û

û

 

 

Other than the above (A), (B) and (C) clauses, you can also have additional coverage against other risks such as war risk, riot and  strike risk, temporary storage, incidental hoisting, loading and unloading risks, etc。

 

We also offer coverage for other methods of cargo transport, including transit by air, land, mail, courier, etc。

 

HOW TO APPLY

 

China Merchants Group has a profound history in shipping services.  We understand your requirement and committed to provide prompt and reliable cargo insurance services to meet your needs.  To apply or learn more, please contact your insurance consultant

 

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The above product information is for reference only.  Please refer to the insurance policy for detailed terms and conditions.