Marine Insurance

Marine Cargo

This policy covers all goods while in transit depending upon the needs of the insured. Three broad types of cover are available-Institute Cargo Clauses "A", "B", "C". Institute Cargo Clause "A" is the widest cover that is available on an all risks basis.

Open Policy

This policy is issued for transit of goods within India. Policy is valid for one year and all transits during the policy period and declared are automatically covered by the insurance company

Specific Voyage Policy

It is valid for a single voyage or transit. The policy will be issued before the voyage starts. The coverage will cease on completion of the voyage.

Annual Policy

Is issued to cover goods in transit by road or rail or sea from specified godowns or units owned or hired by the insured. The goods covered must belong to or held in trust by the insured

Hull Insurance

It covers the insurance of the vessel and its equipment i.e. furniture and fittings, machinery, tools, fuel, etc. It is taken generally by the owner of the ship.