Provides coverage against any loss and/or damage to the cargo.
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), inter island, and inland.
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.
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.
Institute Cargo Clauses (C) 1/1/09
Covers loss of or damage to cargo caused by accident of the vessel or craft like stranded, grounded, sunk, capsized, burnt or collided and overturning and derailment of land conveyance.
- 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)
Institute Strikes Clauses (Cargo) 1/1/09 cover physical losses or damages caused by strikers, locked-out workmen, persons taking part in labor 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 and Strikes is to follow the standard rate from The War Risks Rating Committee Cargo & Air, London (subject to changes any time).
- Willful misconduct of the Assured
- Inherent vice of nature of the goods insured
- Insufficient packing
- Ordinary loss