You, as Importers or exporters, are exposed to countless financial risks when you transit your cargo internationally. Trying to recover losses from carriers is difficult and time-consuming. The best way to protect your financial loss is to cover your cargo with our Marine Cargo Insurance Policy.
With our marine cargo insurance product, we will be responsible for financial compensation for physical loss or damage to your cargo while in marine transit.
The insured objects:
Goods in transit around the world.
Scope of cover:
Depending on different types of goods (coal, petroleum, frozen …), different kinds of transportation, insurance policy will apply different terms and conditions.
The covered risks are based on the Institue Cargo Insurance Clauses of The International Underwriting Association of London (ICC 2009) according to CVI’s insurance policy wording.
Main exclusions:
According to the Institue Cargo Insurance Clauses of The International Underwriting Association of London (ICC 2009), the main exclusions are briefly summarized as follows:
• Wilful misconduct of the Insured
• Ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear, inherent vice or nature of the subject-matter insured
• Insufficiency or unsuitability of packing or preparation of the subject-matter insured
• Delays
• Insolvency or financial default of the owners, managers charterers or operators of the vessel
• Radioactive, nuclear.
• unseaworthiness of vessel or craft or unfitness of vessel or craft.
• Unfitness of container or conveyance.
• Wrongful act of any person or persons (*)
• War risks, strike risks (*)
(*) may be covered by additional terms.
• Other exclusion as stated in the insurance policy wording of CVI.
Insurance Premium:
Please contact CVI to get proper rates for the coverage of each type of goods.
Important Notes: es
• Always read the insurance policy carefully and advise CVI if there is any error.
• Take reasonable precautions for the purpose of preventing or minimising loss.
• Make sure all of the rights against carriers, bailees or other third parties are properly preserved and exercised
• Contact CVI to be timely advised and guided when there are problems arise.