Marine (Transit) Insurance

Coverage Add-On Cover Exclusion


We are living in a world of boundary less Business. As you continue to expand the business horizon, you are also increasingly exposed to the risks that are associated with transit of goods. Your biggest challenge is to put in place a suitable Risk Management, so that you can confidently move ahead fulfilling your dream of expanding your business horizon.

International business carries with it significant risks. The importing and exporting of goods can expose you to massive financial losses should your international shipments be damaged or destroyed in transit. Catering to both importers’ and exporters’ needs, the coverage is comprehensive and flexible with international shipments protected from the time the goods leave the seller’s warehouse until they reach the Buyer’s warehouse.

Policies are customizable to your needs, with a specific policy to cover each single consignment. Type of transit insurance policy :

  • Marine Inland (Domestic) Transit Insurance Policy
  • Marine Import Transit Insurance Policy
  • Marine Export Transit Insurance Policy
  • Marine Specific Voyage Transit Insurance Policy


  1. Institute Cargo Clause (C): Named Peril basis. This is the most restricted clause and covers only: loss or damage reasonably 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 at a port of distress and loss or damage caused by – General Average Sacrifice / Jettison
  2. Institute Cargo Clause (B): Named Peril basis. This cover is similar to ‘C’ Clause, but in addition covers:
    • Earthquake, volcanic eruption or lightning
    • Washing Overboard
    • Entry of sea, lake or river water into the vessel, craft, hold, conveyance, container, liftvan or place of storage
    • Total loss of any package lost overdoard or dropped whilst loading onto, or unloading from, vessel or craft
  3. Institute Cargo Clause (A): The widest form of cover under Marine Cargo Insurance in so far as it relates to the perils covered. ICC (A) is an unnamed perils clause.
  4. Institute Cargo Clause (Air)

Add-On Cover

Additional cover can also be provided on payment of additional premium for the following:

  • SRCC
  • War
  • Loading and Unloading
  • Customs duty
  • Duty Cover
  • Intermediary Storage


This policy does not cover loss or damage due to:

  • Willful misconduct
  • Ordinary (inevitable) Losses & Ordinary leakage
  • Improper packing
  • Delay, Inherent vice, Nuclear Weapons Risk
  • Un Seaworthiness of vessel or craft & Unfitness of vessel, Craft, Conveyance, Container, and Lift
  • Loss, damage, expense arising from insolvency or financial default of owners, managers, charterers or operators of the vessel.