Marine insurance is essentially international and consequently a wide variety of “ adventures “ need to be protected. Marine insurance includes, insurance of ships under construction, transit of goods overseas, lakes, rivers & inland waterways and of land transit.
In the realm of cargo insurance, a variety of commodities in transit has to be protected, each with its particular hazards and special insurance needs. It is in order to adapt the standard form of the policy to meet all these insurance requirements that such a wide diversity of clauses is required.
During the sea voyage; the cargo may be exposed to various perils viz,
There are 3 types of covers available ICC (A), ICC (B) and ICC (C); SRCC & War risks are optional
During the road/rail voyage, the cargo may be exposed to various risks viz,
There are 3 types of covers available ITC (A), ITC (B) and ITC (C); Strike, Riot & Civil commotion risk are optional
The below segment of people can avail the marine insurance for their domestic, exports and import operations
Based on the terms of sale; either the buyer or the seller of the commodity can purchase the marine insurance. The most popular sale terms are C & F, CIF, FOB, Ex-factory or Ex-works.
Type of covers available under Marine Insurance:
Underwriting factors of Marine Insurance:
Common Exclusions under Marine Insurance:
Loss, damage or expenses attributable to,
As an IRDA licensed broking firm; we will suggest with best coverage with adequate price & on-line portal facility for printing of marine declarations at customers’ end with ease and user friendly process.