Freight Insurance is an insurance product that aims to provide protection for goods transported by land, sea and air.
Transportation insurance is intended for owners of goods, either individuals, institutions or companies, who need protection for the transportation of goods; whether they use their own fleet, or hire the transportation service companies.
CHOICE OF COVERAGE
Institute Cargo Clause A (ICC A),
Covers all losses, except for risks listed as "Exclusions", including General Average, Salvage and Both-to-Blame Collision liability (in case of ship collisions).
Institute Cargo Clause B (ICC B),
Insures the risks of fire, explosion, foundering, sinking, stranding, capsizing, collision, demolition, Earthquake, volcanic eruption, lightning, rescue measures, leaking, total loss per packing, General Average, Salvage and Both-to-Blame Collision.
Institute Cargo Clause C (ICC C),
Covers the risks of fire, explosion, foundering, sinking, stranding, capsizing, collision with other objects, demolition, General Average, Salvage, and Both-to-Blame Collision.
Additional warranty options include :
Institute Strike Clause
Covers the risk of strikes, obstruction of work or workers, work disruption, riots, civil unrest, terrorist attacks, politically motivated violence, General Average and Salvage.
Institute War Clause
Covers the risks of war, civil war, rebellion, acts of violence from and or against the authorities, arrest, expropriation, detention related to the risks mentioned, mines, torpedo, bombs or abandoned weapons of war, General Average and Salvage for losses due to the risks mentioned.