Cargo Insurance

Our marine cargo insurances cover different risks depending upon the type of coverage sought by our customers. We provide all risks coverage as well as policies covering limited risks depending upon the needs of our customers. However all types of Insurance available cover the risks of General average, Salvage and Salvage Charges. Extended coverage of War & SRCC may also be obtained upon requirement.


Intended User:
Ship owners
Cargo Exporters
Cargo Importers

Coverage:
The coverage of marine cargo is categorized in the following clauses:

Institute Cargo Clause A
This is the widest available cover and provides protection against “All Risks” for loss or damage to cargo resulting from a fortuity during transit except ones that are excluded and mentioned in the clause.

Institute Cargo Clauses (Air)
The above clause is used for air shipments and provides cover against All Risks. In order to know further details related to exclusions, duration of cover, standard procedure for lodging claims and duties of insured under the contract, please download the Institute Cargo Clauses (ICC) - A & Institute Cargo Clauses (Air)


Institute Cargo Clause B
ICC – B is a limited cover as opposed to ICC-A and it provides protection against losses arising due to fire & explosion, vessel or craft being stranded, grounded, sunk or capsized. It also includes cargo losses sustained due to overturning, derailment of land conveyance and losses sustained due to collision or contact of vessel/craft or conveyance with any external object other than water. Physical losses to cargo due to discharge of cargo on port of distress, earthquake, volcanic eruption or lightening (natural disasters) are covered. Losses sustained due to general average, jettison, washing over board, entry of sea/lake or river water into vessel/craft/hold/conveyance/container/lift-van or place of storage are also stand insured. Total Loss of any package lost over board or dropped whilst loading onto or unloading from vessel or craft are indemnified. In order to comprehend further details concerning exclusions, duration of insurance, procedures for lodging claims and general obligations of parties to insurance contract, please see the Institute Cargo Clauses (ICC) - B.

Institute Cargo Clause C
Institute cargo clauses – C provide the minimum coverage. This clause provides cover resulting from fire & explosion. Losses resulting from stranding, grounding, sinking or capsizing of vessel are also covered. This clause guards against losses occurring due to overturning, derailment of land conveyance and losses sustained due to collision or contact of vessel/craft or conveyance with any external object other than water. Physical losses to cargo due to discharge of cargo on port of distress are covered. Losses sustained due to general average, jettison, washing over board also stand insured. For further details in order to improve your understanding of the product and matter relating to the general exclusions, duration of insurance, procedures for lodging claims and general obligations of parties to insurance contract, please download the Institute Cargo Clauses (ICC) - C.

Inland Transit Insurance
Inland Transit insurance is also available for our customers who are interested in moving all sorts of cargo from any place in Pakistan to any point of destination within the country as well as to the neighbor countries by Road or by Rail Two standard types of covers are available under Road/Rail Clause A & Road/Rail Clause B.

Please Click here to download a thorough comparative analysis of the clauses explained above.

Exclusions:
In no case shall this insurance cover:

Loss damage or expense arrising from the willful misconduct of the Assured.
Ordinary leakage, ordinary loss in weight or volume, wear and tear of the subject-matter Insured.
Loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured.
Loss damage or expense caused by inherent vice or nature of the subject-matter insured.
Loss damage or expense proximately caused by delay, even though the delay can be caused by a risk Insured against.
Loss damage or expense arising from insolvency or financial default of the owners, managers, charterers or operators of the vessel.
Deliberate damage to or deliberate destruction of the subject-matter insured or any part thereof by the wrongful act of any person or persons.
Loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.
Damage or expense arising from non seaworthiness of vessel or craft, unfitness of vessel craft conveyance container or lift van for the safe carriage of the subject-matter insured.
The Underwriters waive any breach of the implied warranties of seaworthiness of the ship and fitness of the ship to carry the subject-matter insured to destination, unless the Assured or their servants are privy to such non seaworthiness or unfitness.
Civil war revolution, rebellion insurrection, or civil strife arising there from, or any hostile act by or against a belligerent power.
Capture seizure, arrest restraint or detainment, and the consequences thereof or any attempt there at.
Derelict mines, torpedoes, bombs or other derelict weapons of war.
Caused by strikers, locked-out workmen or persons taking part in labor disturbances, riots or civil commotions.
Resulting from strikes, lock-outs, labor disturbances, riots or civil commotions.
Caused by any terrorist or any person acting from a political motive.