Marine
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Cargo Insurance will cover loss or damage of goods transited by air, sea or road.
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The most famous and used cargo clauses are:
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1.Institute Cargo Clause ‘C’ CL254 (1/1/82)
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 Covers Fire and explosion
- Stranding, grounding and sinking
- Jettison
- General average
- Overturning or derailment
- Collision of vessel with external object other than water
- Discharge of cargo at port of distress
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2. Institute Cargo Clause ‘ B’ CL253(1/1/82)
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| It includes all covers under ‘C’ & also: |
- Earth quake, volcanic eruption or lightning
- Water damage by entry of sea/river water
- Total loss of packages lost overboard
- Total loss of packages dropped during loading and unloading
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3. Institute Cargo Clause ‘A’ CL 252 (1/1/82)
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It’s an all risk policy of loss or damage to the insured subject.
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It includes all covers under ‘B’ and ‘C’ & also:
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- Breakage
- Scratching,chipping,denting and bruising
- Theft
- All water damage including rain water.
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