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Cargo Insurance

  • 1. Product Overview
    It is insurance that compensates for the loss of cargo suffered by the Assured due to an unexpected accident during the transportation of the cargo in accordance with the terms of the contract.
    Cargo insurance is not period insurance, but voyage insurance. Therefore, of course, compensation is only possible for insurable accidents that accompany the transport voyage.
  • 2. Company Who needs this policy
    Clients who need insurance during courses such as maritime, air, and land transportation
  • 3. Major compensating damages

    In general, we offer All Risk cover, unless it is excluded risk, and the terms and conditions may limit the coverage in the policy.

    Old Testament – ICC (A/R), ICC (W/A), ICC (FPA)

    New Testament – ICC(A),ICC (B), ICC (C)

  • 4. Exclusion

    - loss damage or expense caused by insufficiency or unsuitability of packing or preparation

    - loss damage or expense caused by inherent vice or nature

    - loss damage or expense caused by delay

    - Indirect loss

    - Radioactive weapons

    - loss damage or expense attributable to the wilful misconduct of the Assured

    - ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured

    - loss damage or expense caused by insolvency or financial default

    - unseaworthiness of vessel or craft or unfitness of vessel or craft

    - caused by strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions