Cargo Insurance

Cargo Insurance

Product Description

Product Description – front page

Provides coverage against any loss and/or damage to the cargo caused by various kinds of risks during transit for export/import (by sea and air), interisland, and inland.

Key Features

  • Single voyage policies for one-time shipments.
  • Regular cargo shipments can benefit from Open Policy, which automatically insures shipments based on specified terms and conditions.
  • Annual cover with little administration is a convenient option. The premium is adjusted at the end of each policy period according to the actual value of your shipments.

Plan Highlights

  1. War coverage
    We could cover extension coverage of war risks for ocean marine (overseas voyage) and interisland shipments.
  2. Strike coverage
    We could cover extension coverage of strike risks for all shipments.
  3. Coal export shipment coverage
    We are listed in the Ministry of Trade Indonesia as National Insurer to cover coal export shipment.
  4. E-cargo application
    Our own platform for better service, faster business process and paperless.
  5. Logistic survey
    We could provide service of logistic loss prevention survey for our clients as logistic company.
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Plan details

Coverage

BASIC COVERAGES

  1. Institute Cargo Clauses (A) 1/1/09
    This insurance covers all risks of loss of or damage to the subject matter insured except as excluded by the exclusions be stranded, sunk, burnt or collided.
  2. Institute Cargo Clauses (B) 1/1/09
    Covers loss of or damage to cargo due to perils mentioned under ICC (C) 1/1/09 condition and also caused by washing overboard, earthquake, volcanic eruption, lightning, jettison, and general average.
  3. Institute Cargo Clauses (C) 1/1/09
    Covers loss of or damage to cargo caused by accident of the vessel or craft, which includes being stranded, grounded, burnt, having sunk or capsized, collision, overturning and derailment of land conveyance.


Extended Coverages

  1. War Risks
    Institute War Clauses (Cargo) 1/1/09 cover physical losses or damages caused by war, civil war, rebellion, revolution, insurrection, or civil strife arising therefrom, any hostile act by or against a belligerent power, capture, seizure, arrest, restraint or detainment, derelict mines, torpedoes, bombs or other derelict weapons of war, general average or salvage charges incurred to avoid a war peril.

    Coverage against war risks can only be provided for overseas voyages, both by sea-going vessel (excluding inland transit).
     
  2. Strikes Risks
    Institute Strikes Clauses (Cargo) 1/1/09 cover physical losses or damages caused by strikers, locked-out workmen, persons taking part in labour disturbances, riots and civil commotions, any terrorist or any persons acting with a political motive, general average and salvage charges incurred to avoid loss from an insured peril.

Note: The premium rate for War Risks and Strikes Risks is to follow the standard rate from The War Risks Rating Committee Cargo & Air, London (subject to changes any time).

Exclusions
  1. Wilful misconduct of the Assured
  2. Inherent vice of nature of the goods insured
  3. Insufficient packing
  4. Ordinary loss
  5. Delay
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