Marine Insurance


overage against any damage/loss caused to the goods in transport from one point of origin to another.


  • All risk coverage
  • Fire or explosion
  • Overturning or derailment
  • Earthquake, volcanic eruption and lightening
  • Water damage by entry of sea/river water
  • Breakage
  • Theft
  • Malicious damage


  • Willful misconduct of the assured
  • Ordinary leakage,loss in weight or volume
  • Ordinary wear and tear
  • Non standard and non customary packaging
  • Unfitness of truck
  • Over dimension of transport vehicle
  • Over Weight of transport vehicle
  • Exceeding per sending limit and location
  • War

Institute Cargo Clause A and B

Clause A Clause B
All risk policy Only accidental
Newly manufactured product Tail end risk
Loading and unloading excluded
Second hand manufactured product

Key Notes

  • After unloading 7 days extension of fire insurance coverage of goods
  • Insurance starts from LR copy and ends at unloading at gotdown or when reached to party
  • Transshipment is covered
  • Intimation should be early(10 days or max two months)
  • Invoice plus 10%(0.5 access or minimum 5000)(freight charges)
  • Balance premium can be carry forward next in new policy or can br refunded
  • 75% of sum assured should be utiliized

Documents Required in claim

  • Original invoice
  • Original LR
  • FIR Copy
  • Damage certificate
  • Party letter
  • Letter to transporter with registered AD slip
  • Company cancel cheque
  • Company pan card
  • Letter of subrogation
  • Photographs
  • Kyc(above Rs.1 lakh)

Requirement for proposal

  • Annual turnover
  • Per sending limit
  • Per location limit
  • Standard packaging
  • Pervious year claim history

Type of policies covered

  • Specific
  • Declaration
  • E-marine