Cargo insurance

1.This insurance covers all risks of loss or damage to the insured cargo.

2. This insurance covers the costs of general accidents and rescue work established in accordance with the charter contract and / or basic law and practice, in order to avoid loss of life for any reason.

3. This insurance provides coverage for the same share of liability under the freight contract under the Collision Failure of Both Parties clause as for the damages reimbursed under that clause.

Terms & Conditions

1. Loss of the insured cargo or damage caused by:
– fire or explosion;
– grounding, stranded, overturning of the vessel or in the case when the vessel
drowns;
– overturning or derailing during ground transportation;
– collision of a ship or vehicle with any object, except for contact with water;
– unloading of cargo in the port as a result of an accident;
– earthquake, volcanic eruption or lightning strike.
2. Death of the insured cargo or damage to it, which occurred as a result of:
– losses, expenses and contributions for general average;
– throwing or washing cargo overboard;
– leakage of sea, lake or river water into a ship, vehicle,
container with cargo or storage place.
3. Complete loss of individual parts of the cargo as a result of falling overboard during loading
or unloading

Terms C

When insuring on “conditions C”, insurance coverage is provided only for the following risks:

1. Death of the insured cargo or damage to it, which occurred as a result of:

– fire or explosion;

– grounding, being stranded, overturning the vessel or in the event that the vessel sinks;

– overturning or derailing during ground transportation;

– collision of a ship or vehicle with any object, except for contact with water;

– unloading of cargo in the port as a result of an accident.

2. Death of the insured cargo or damage to it, which occurred as a result of:

– losses, expenses and contributions for general average;

– ejection of cargo.

For the preparation of the cargo insurance contract and the risk assessment, the necessary information must be collected. It is possible to correctly assess the risk only on the basis of
reliable information. We ask you for information about the transportation, which is detailed and multifaceted. Initial information is usually provided in the form of an insurance application or questionnaire

Depending on the type of cargo, the policyholder should pay attention to the main risks accompanying the carriage of such cargo as:

1. bulk cargo (grain, sand, metal in bulk, coal, gravel and most raw materials
   goods).
2. industrial machinery and equipment (the main risks are caused by external impact on the cargo (damage during loading / unloading or transportation) or petty theft)