MARINE INSURANCE

(a) Marine Cargo Insurance
Cover - Any loss or damage to goods in transit by rail, sea, road, air or post.
Owners or bankers of goods in transit/shipment can be insure. And the following can be insured:
➢ export and import shipments
➢ goods in transit by rail, sea, road, air or post
➢ goods carried by coastal vessels plying between the various ports within the country
➢ cargo transported by small vessels or country craft over inland waters
➢ goods moved from place to place by river transport

The policy covers loss/damage to the property insured due to:
➢ Fire or explosion; stranding, sinking etc.
➢ Overturning, derailment ( of land conveyance)
➢ Collision
➢ Discharge of cargo at port of distress
➢ Jettison
➢ General average sacrifice, salvage charges
➢ Earthquake, lightning
➢ Washing overboard
➢ Sea, lake, river water
➢ Total loss of package lost overboard or dropped in loading or unloading
➢War and SRCC is specifically covered