Cargo transportation insurance is an indispensable and important part of the international logistics. As an international integrated logistics provider.It can help clients to circumvent shipping risk effectively.
1. Marine Insurance: Generally, it is called be Cargo Marine Insurance, a contract of indemnity, which is to compensate for the loss or damage in terms of the value of the insured goods (mainly refer to the import and export of the goods, shipping, freight, and the liability for the carrier against the third party, etc.).
2. Insurance Products: There are two kinds of the Cargo Marine Insurance: Basic Insurance & Additional Insurance
Basic insurance, including Free from particular average (excluding Particular average)
(1). Total loss caused by natural calamities,
(2). Partial loss caused by accidents,
(3). Partial loss resulted from the accident and some loss caused by natural calamities,
(4). General average,
(5). In the course of transportation a few pieces fall into the sea or loses,
(6). the seller afford the loss according to the provisions of P.I.C.C. Ocean Marine Cargo Clauses. With Particular Average (including Particular average) [WPA= FPA+PA, including Particular average that caused by natural calamities] and All Risk [A.R.= WPA+11 kinds of General additional risks.
Additional Risk
.....Additional Risk including General additional risks and Special additional risks
General additional risks includes:
(1). Theft, pilferage & non-delivery risk (2). Fresh water and /or rain damage risk
((3). Leakage risks (4). Shortage risk (5). Hook damage risks
(6). Intermixture and contamination risks (7). Clash and breakage risks
(8). Taint of odor risks (9). Sweat and heating risks (10). Breakage of packing risks
(11). Rust risks
Special additional risks includes:
(1). War risk (2). Strikes risk (3). Failure to delivery (4). Import duty risk (5) On deck risk
(6) Rejection risk