Marine Cargo

 

Insured Object Goods carried by overseas transport i.e. by sea, by air.
Scope of Cover Marine Cargo insurance is arrange to cover goods in storage or in transit against Loss of and/or damage to the insured goods carried by sea, air, etc. due to fire or explosion, means of transportation being stranded, grounded, sunk or capsized, collision, theft, breakage, water damage... happening during the course of transportation; and many other risks such as earthquake, volcanic eruption, lightning... subject to the Institute Cargo Clauses C1 252, 253, 254 published by The Chartered Insurance Institute of London 1982. Besides, the Assured will be covered for some expenses such as general average sacrifice, salvage charge, charges for unloading, storing and forwarding insured cargo incurred reasonably at the port of refuge
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