logo en

Marine Cargo

marine cargo shutterstock 52768852 res 300x201 marine cargo shutterstock 52365235 res 300x201

The evolution of shipping, navigation, maritime trade abolished borders in international trade, increased the volume of goods transported by land, air and sea and created the modern needs of marine insurance, both during transit and while remaining in at the destination warehouse.

There are many risks for damage or loss of goods which are related to the mode of transport, the sensitivity of the product, the type of packaging, conditions of travel and the condition of the warehouses.

Kentriki Insurance Company Ltd offers three coverage packages, called clauses A, B and C.

CLAUSE A (INSTITUTE MARINE CLAUSES A):

The clause, known as ALL RISKS, covers goods from all risks except those in exeptions, which otherwise are not insurable.

CLAUSE B (INSTITUTE MARINE CLAUSES B):

It covers losses covered by the clause C and in addition:
• Earthquake
• Washing  overboard by the waves
• Entry of sea, lake or river water into vessel
• Total loss of cargo during loading and unloading

CLAUSE C (INSTITUTE MARINE CLAUSES C):

The losses covered are:
• Fire or explosion
• Vessel or Craft being stranded, grounded, sunk or capsized
• Overturning or derailment of land conveyance
• Collision or contact of vessel or conveyance with any external object other than water
• Discharge of cargo at a part of distress
• Loss or damage to the subject matter insured caused by general average sacrifice or jettison

Kentriki Insurance Company Ltd Customer Service and its network of associates all over Cyprus
are at your disposal to provide you with more details.