CNP ΑΣΦΑΛΙΣΤΙΚΗ - Marine

Marine

Marine

The Marine Cargo Insurance Policy covers the loss of or damage to goods while they are being transported, caused as a result of any of the insured risks. The insured risks are offered in the form of Coverage Clauses known as Institute Cargo Clause A, B and C.

BENEFITS

International Clauses

The coverage clauses are internationally accepted and valid for most countries in the world.

Full Coverage

Actual total loss or constructive total loss.

WHO IS THIS FOR

Individuals, importers or exporters of goods or people engaging in transit trade. The Marine Cargo Insurance Policy falls under Marine and Transport Insurance Class.

HOW TO GET IT

HOW DOES IT WORK

CHARACTERISTICS & OPTIONS

  • Basic Coverage

    The Basic Coverage of the Insurance Policy includes:

    • Loss of or damage to goods while being transported caused by any of the Insured Perils offered in the form of cover packages (Coverage Clauses) known as Institute Cargo Clause A, B and C.

    Institute Cargo Clause (C) – 1.1.82 covers loss or damage caused by:

    • Fire or explosion
    • Mooring, impact, sinking or capsizing of the vessel
    • Overturning or derailment of land conveyance
    • Collision or contact of vessel or other conveyance with any external object other than water
    • Discharge of cargo at port of distress
    • General average sacrifice
    • Compulsory / voluntary jettison

    It also covers:

    • General average contribution and salvage charges
    • Both to blame collision

    Clause Institute Cargo Clause (B) – 1.1.82 covers loss or damage caused by

    • Earthquake, volcanic eruption or lightning
    • Sea, lake or river water leak into the vessel, container or place of storage
    • Washing overboard

    Also, coverage of TOTAL loss of package:

    • Either due to its loss overboard or in case it dropped whilst loaded on to or unloaded from the vessel

    Institute Cargo Clause (A) – 1.1.82 covers loss or damage caused by all of the above perils and:

    • Any other loss or damage caused by a sudden and unforeseen event (All Risks) which is not specifically excluded
  • Additional Coverage

    The optional coverage of the Insurance Policy includes:

    • Loss or damage caused by war
    • Loss or damage caused by riot or strike

COVER EXCEPTIONS

The Insurance Policy is subject to certain exclusions, some of which are:

  • war, acts of terrorism, nuclear radiation and environmental pollution
  • unsuitable packaging or inappropriate stacking in a container
  • loss or damage caused by delay
  • loss or damage arising from insolvency or financial default of owners, managers or charterers of vessels
  • loss or damage resulting from the unsuitability of the ship or container

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