Marine Insurance

It consists of different types of covers called “clauses “. There are different types of coverage, and some of them are the following:

CLAUSE INSTITUTE OF GOODS “A” 1.1.82 (Institute Cargo Clauses A)

Commodity Clause ‘A’ offers the widest coverage “against all risks ‘ not excluded name

INSTITUTE OF GOODS CLAUSE “B” 1.1.82 (Institute Cargo Clauses B)

The clause “B” provides coverage to the risks listed by name. These are :

• Fire or Explosion
• Grounding or Sinking ship or boat
• Overturning or derailment of land transport medium
• Collision or contact of a vessel or transport vehicle with another object other than water
• Unloading goods at port of refuge
• Earthquake, volcanic eruption or Bolt
• Coverage for forced and wilful throwing goods overboard
• Inflow water sea / lake or river ship
• Overturning or derailment of land transport medium

CLAUSE INSTITUTE OF GOODS “C” 1.1.82 (Institute Cargo Clauses C)

Clause “C” offers coverage to the risks listed by name. And complete loss – related destruction of goods. These are:

• Fire or Explosion
• Grounding or Sinking ship or boat
• Overturning or derailment of land transport medium
• Collision or contact of a vessel or transport vehicle with another object other than water
• Unloading goods at port of refuge
• Overturning or derailment of land transport medium