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Marine Cargo

Scope of Cover
Marine Cargo policy covers the cargo in transit against the various risks.

Perils covered for Exports & Imports shipments are as follows:

Institute Cargo Clauses – C

  • Fire or explosion
  • Vessel or craft being stranded grounded sunk or capsized
  • Overturning or derailment of land conveyance
  • Collision or contact of vessel craft or conveyance with any external object other than water
  • Discharge of cargo at a port of distress,
  • General Average Sacrifice.
  • Jettison.

Institute Cargo Clauses – B covers additional risk in addition to what is covered under ICC -C

  • Washing Overboard
  • Lightening, Earthquake, Volcanic Eruption
  • Entry of Sea Water
  • Total loss of Package while Loading/Unloading
  • Washing overboard

Institute Cargo Clauses – A covers additional risk in addition to what is covered under ICC – B.

  • Theft, Pilferage, Non Delivery
  • Fresh water damage
  • Leakage/ Breakage
  • Sweat / Taint
  • Country damage
  • Any other Risk Insurer accepts to include.

Perils covered for domestic shipments are as follows:

Inland Transit Clause(C) or ITC(C): Loss or damage due to

  • Fire
  • Lightning

Inland Transit Clause (B) or ITC (B) covers the additional risk in addition to what is covered under ITC – C

  • Overturning or derailment of land conveyance
  • Breakage of Bridge
  • Collision with or by the vehicle.
  • Overturning of the carrying vehicle.
  • Derailments or accidents of like to the carrying railway wagon/vehicle.

Inland Transit Clause (A) or ITC (A) covers the additional risk in addition to what is covered under ITC – B.

  • Non delivery of the entire consignment
  • Theft & Pilferage
  • Fresh &/or rain water damage
  • Damage by Hooks, Nails, Oil, Chemicals, Acids & other extraneous substances
  • Any other Risk Insurer accepts to include.

Marine Hull

Marine Hull Insurance covers physical loss or damage to the hull and machinery which constitute the ship itself. Ships of different type and trade need different consideration when it comes to the scope and terms of H&M insurance.

Advantage of Anar Insurance

Anar Insurance encourages savings in the form of investments.Premium given for life insurance acts as savings for future.It helps in collecting and securing funds for security and safety for future needs.

Providing security

Financial security is utmost important for survival in today’s world.Safeguarding family’s finances thru different kinds of insurance can be beneficial and act like a security for future.

Spreading Risk

The pooling of risk can be done from one or more sources. Hence spreading/dividing the burden from a single source.The risk could be single or multiple types.

Promotes business activities

Insurance activity builds and shapes different kind of opportunities as multiple service providing companies are linked once the insurance is matured.

Provides employment opportunities

Insurance is a progressive industry and with introduction and development of new policies in helps in creating new job opportunities which requires special skill sets.

Maintains economic stability

It converts accumulated capital to productive investments.It also helps in financial stability and promotes trade and commerce for economic development and growth.

Assures financial compensation

A financial compensation is provided in many types of insurance. If we take an example of Life Insurance, we realize that once the term has ended or due to the demise of the insured, the compensation is given to the family.

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