Marine Risk Insurance
Enjoy reliable insurance at a favorable price.
Carriage Marine Peril Insurance is a class of insurance that covers property in transit against loss or damage arising from perils associated with shipping or aviation and similar land or inland waterways.
At AIC Insurances we want you to have peace of mind. In cooperation with leading companies specializing in this unique type of insurance, we offer Main Cargo Insurance with the widest coverage options, by international conditions.
Whether you are an individual looking to insure one shipment/move or a commercial shipper, freight forwarder, or logistics provider who needs to cover multiple shipments, we can provide you with the right cargo insurance coverage you need to protect your goods for their full value, in the shortest time and at the best price.
What is insured?
The Basic Coverages of the provided insurance policies include:
Loss or damage to goods during their carriage as a result of insured perils offered in the form of cover packages known as Institute Cargo Clauses A, B, and C).
Institute Cargo Clauses C – 1.1.82 (Institute Cargo Clauses C – 1.1.82) covers loss or damage resulting from:
⦁ Fire or explosion
⦁ Grounding, collision, sinking, or overturning of the ship
⦁ Overturning or derailment of the land vehicle
⦁ Collision or contact of a ship or other means of transport with an object other than water
⦁ Unloading the goods at a port of refuge
⦁ General Damage Sacrifice (General Average Sacrifice)
⦁ Jettison
A contribution is also covered for:
⦁ General breakdown and dissemination costs (general average levy and salvage charges)
⦁ Both blame the collision clause
Institute Cargo Clauses B – 1.1.82 (Institute Cargo Clauses B – 1.1.82) covers loss or damage of all the above risks and in addition:
⦁ Earthquake, volcanic eruption, or lightning
⦁ The inflow of sea, lake, or river water into ship, container, or storage space
⦁ Washing overboard
It also covers TOTAL package loss due to:
⦁ Escaping from the ship’s deck or falling while being loaded onto or unloaded from a ship
The Institute Cargo Clauses A – 1.1.82 (Institute Cargo Clauses A – 1.1.82) covers loss or damage of all the above risks and in addition:
Any other loss or damage due to sudden and unforeseen occurrence (All Risks) not excluded
The Optional Insurance Covers include:
Loss or damage due to disturbance or strike
What is not insured?
- ⦁ War, terrorist acts, nuclear radiation, and environmental contamination
⦁ Improper packaging or stacking in a container
⦁ Loss or damage due to delay
⦁ Loss or damage due to bankruptcy of shipowners, managers, or charterers
⦁ Loss or damage due to the unfitness of the ship or container
