Marine Open Cover Insurance
This Cover provides a blanket cover against loss or damage to all goods transported by a specific carrier, or by a specific shipper, during a stated period.
This cover is for anybody who owns cargo to be imported or exported.
What are the Key features/benefits?
- Institute Cargo Clause Â
- Road/Rail Transit Clause (All Risks, including SRCC)
- Institute strikes clauses (Cargo)
- Institute war clauses (Cargo)
- Institute classification clause
- Institute standard conditions for cargo contracts
- Transhipment held covered Â
- Institute replacement clause
- Institute malicious damage clause
- Including risks of loading and unloading
- Institute theft pilferage and non-delivery (insured value) clause
- Overnight security
- Tarpaulin clause
- Books clause
- Hold up and Hijack extension
- Riot and Strike Extension
- Loading and Unloading Risks
- Transhipment/Storage for 7 days at Premises, Rail and/or Road Risks Clause (All Risks)
What are the exclusions (If any)?
- War and related perils and terrorism
- Theft from unattended vehicle/vessel
- Willful neglect.
- Consequential loss damage.
- Year 2000 related problems and computer viruses.
- Fines and damages.
- Theft by own employees
- Wear and tear or depreciation
- Atmospheric or climatic conditions unless the property is conveyed in a closed vehicle
