Transporting of goods is something indispensable and unavoidable for the human society from the very beginning of modern era. Marine insurance is unavoidable for merchants, traders and industrialists for better planning and tension-free investments. Marine insurance is almost mandatory for Bank Letters of Credit.
While temporary shifting of jobs and residents and termination of employment as well, executives may require transporting and forwarding of their Personal Effects which can be insured against transit perils. By preparing and forwarding inventory with itemized declared values to us, an online premium quote can be provided.
By Sea Freight
Marine Cargo Insurance coverage for perils covered under marine insurance clauses "A", "B" and "C".
Type of losses Covered by Institute Cargo Clauses "A"
- Particular average (partial loss) such as T.P.N.D. (Theft, Pilferage and non-delivery), breakage, leakage, denting, damage and contamination, etc...
- General average sacrifice.
- Piracy.
- Actual total loss.
- Constructive total loss.
- Expenses incurred by the assured to minimize the loss such as survey fees, reconditioning costs.
- Sue and labor charges covering particular charges to prevent loss or damage to the goods.
- General average and salvage contributions.
- Collision liability (legal liability).
- Stranding, sinking, grounding, fire and explosion.
- Jettison, washing overboard, sling risks.
- Earthquake, volcanic eruption, lightning.
- Entry of sea water to vessel holds and/or container.
- Overturning or derailment of land conveyance.
Type of losses Covered by Institute Cargo Clauses "B"
Loss or damage reasonably attributable to
- Fire or explosion.
- Vessel or craft being stranded, grounded, sunk or capsized.
- Overturning or derailment of land conveyance.
- Collision or contact of vessel, craft or conveyance with any external object other than water.
- Earthquake, volcanic eruption or lightning.
Loss or damage caused by
- General average sacrifice.
- Jettison.
- Washing overboard.
- Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, lift van or place of storage.
- Total loss of any package lost overboard or dropped whilst loading on to, or unloading from, vessel or craft.
Type of losses Covered by Institute Cargo Clauses "C"
Loss or damage reasonably attributable to
- Fire or explosion
- Vessel or craft being stranded, grounded, sunk or capsized.
- Overturning or derailment of land conveyance.
- Collision or contact of vessel, craft or conveyance with any external object other than water.
Loss or damage caused by
- General average sacrifice.
- Jettison.
By Air Freight
- Institute Air Clauses: It covers All Risks or loss or damage of the subject matter insured.
- Total loss of subject insured following a total loss of the aircraft.
By Land
- Land Transit (all risks).
- Land Transit only covering derailment, collision, fire, breaking down of bridges and overturning, earthquake and/or volcanic eruption.
Additional Cover
War Risks (by air and by sea) (Water Borne only)
Libano-Suisse shall cover any loss or damage due to war, civil war, revolution, rebellion, insurrection, capture, seizure arrest, detainment, mines, torpedoes bombs and other weapons of war.
Strikes (by air, by sea and by land)
Libano-Suisse shall also cover any loss or damage due to strikers, locked out workmen, or persons taking part in Labor disturbances, riots or civil commotions, any terrorist or any person acting from a political motive.
