Marine Cargo Insurance

Marine Cargo Insurance

Coverage

According to the insurance conditions for goods transported by sea ICC 1/1/2009 (Institute Cargo Clauses - insurance terms issued by the London Insurance Association and widely used around the world), MSIG is responsible for Responsible for insuring the following risks, except in cases excluded.

Comparison table of risks that are/are not insured:

Risk Cover

Clause
A B C
 Fire or explosion Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Vessels or craft being stranded, grounded, sunk or capsized Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Overturning or derailment of land conveyance Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Collision or contact of vessel with external object Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Discharge of cargo at the port of distress Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Jettison Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 General average Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Salvage charges Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Forwarding charges Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Earthquake, volcanic eruption or lighting Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Washing overboard Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Sea, lake, or river water damage Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 Total loss of package whilst loading onto or unloading from vessel or craft Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance
 All risks of loss or damage to a subject matter insured against any external causes Marine Cargo Insurance Marine Cargo Insurance Marine Cargo Insurance

Exclusions

  • Wilful misconduct of the Assured,
  • Ordinary leakage or loss in weight or volume, wear and tear of the goods insured,
  • Insufficiency or unsuitable packing or preparation of the goods insured,
  • War risk,
  • Radioactive or nuclear risk.

The above is a brief summary of the product. For more details, click ICCA 1109 Wording, ICCB 1109 Wording and ICCC 1109 Wording or contact MSIG Insurance (Vietnam) Co., Ltd

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