CARGO Insurance

Object:

Goods, (specifically mentioned in the insurance policy) during transport carried out by any transportation means (naval, rail ways, road vehicle, aircraft) , within the limits stipulated within the insurance policy, as well as during intermediary storages, before reaching its final destination.

Types of policies:

The insurance can be concluded on a transport by transport basis or for several transports (‘subscription’ type) performed over a determined period of time.

Covered risks:

Specific Clause A – All risks

Specific Clause B – insured risks:

Loss of or damage to the subject-matter insured 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;
    • discharge of cargo or a port of distress;
    • earthquake, volcanic eruption or lightning;
    • loss of or damage to the subject- matter insured caused by:
      1. general average sacrifice;
      2. jettison or washing overboard;
      3. entry of the sea lake or river water into vessel craft hold conveyance liftvan or storage place.
    • total loss of any package lost overboard or dropped whilst loading on to, or unloading from, vessel or craft.

Specific Clause C – insured risks:

Loss of or damage to the subject-matter insured 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;
  • discharge of cargo or a port of distress;
  • loss of or damage to the subject- matter insured caused by:
    1. general average sacrifice;
    2. jettison.
Machinery Breakdown Insurance

Object:

The insured goods consist of machinery, equipment, motors, technological processing lines as well as any other goods connected to them.

Insured risks:

    • operation, setting or assembling, inability or negligence error;
    • designing error, defect hitch or implementation error;
    • lack of water in the steam producing fittings;
    • means of measure functioning, regulation or security error;
    • bursting or buckling during functioning or dismemberment caused by the centrifugal force;
    • overpressure or underpressure;
    • short circuit, overcurrent, overtension with or without fire appearance, on the electric power fittings, etc.

 Time period:

The insurance can be closed for a 12 months period maximum and 1 month minimum.

Electronic equipment insurance

Object:

Section I – Material damages and electronic equipments;

Section II – Data and external data memory devices;

Section III – Additional operational costs/expenses.

Insured risks:

This insurance is an “all risks” insurance, covering, among others:

 

    • faulty operation, negligence, deliberate actions of the employees / third parties;
    • fire, thunder strike, explosion, implosion;
    • fumigation, burning, carbonization;
    • water effects / influence;
    • phenomena / natural causes;
    • design / construction / production errors, material defects, if these errors are not excluded anyway / or as part of exclusions;
    • short-circuit, excessive voltage, induction;
    • house breaking / robbery acts.

Time period:

The insurance can be closed for a 12 months period maximum and 1 month minimum.

Corporate Property Insurance

This insurance is aimed at businesses who own goods used for carrying out economic or social-cultural activities.

 

The insured objects are the companies’ buildings and their content. This type of insurance indemnifies also the expenses for cleaning the place following the risk occurrence, the firemen intervention, damage expertise ( within the limit of 5% of the total insured amount for buildings and content).

Insured risks:

    • fire, lightning, explosion, sonic boom;
    • aircraft falling, accidental building parts falling;
    • atmospheric phenomena ( storm, blizzard, tornado, hurricane, cloud burst, hail);
    • weight of the snow, sewage water and/or neighbor flooding;
    • external crash of a vehicle;
    • vandalism; strikes, mutiny;
    • theft;
    • earthquake, flood, land slides.

Time period:

The insurance can be closed for a 12 months period maximum and 1 month minimum.