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.