MARINE CARGO INSURANCE
Marine insurance covers thd loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination..
Cargo insurance — discussed here — is a sub-branch of marine insurance, though Marine also includes Onshore and Offshore exposed property (container terminals, ports, oil platforms, pipelines); Hull; Marine Casualty; and Marine Liability.
Marine Cargo Insurance
Cargo Insurance is an insurance which covers any loss of/or damage to subject matter insured during shipment or transportation by :
* Marine transportation
* Land transportation
* Air transportation
Marine Cargo Insurance Conditions
There are three insurance condition that are mostly used amongst of many existing marine insurance conditions. These conditions are :
* Institute Cargo Clauses "A" 1/1/82
* Institute Cargo Clauses "B" 1/1/82
* Institute Cargo Clauses "C" 1/1/82
Each of these condition provides different scope of cover, for instance, the Institute Cargo Clauses "A" 1/1/82 has the widest scope of cover, while Institute Cargo Clauses "B" 1/1/82 has less scope of cover. And Institute Cargo Clauses "C" 1/1/82 has the least scope of cover of these three.
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