Institute Cargo Clauses

Normally marine cargo insurance is agreed on conditions internationally known as the Institute cargo clauses. There are three main clauses that apply to general goods; nevertheless, there are other sets of "Institute" clauses which more specifically suit other commodities and interests.

Institute Cargo Clauses (A): are normally the widest form of cover available and afford against physical loss or damage to the goods by accidental causes during the ordinary course of transit. Cover is available on a "warehouse to warehouse" basis.

The clauses contain a standard list of exclusions of which the principal exceptions are loss due to delay, the inherent nature of the goods, insufficient or inadequate packing, ordinary wear and tear, consequential loss or loss of market.

Institute Cargo Clauses (B): offer a restricted form of cover. The major perils covered are fire, explosion, stranding, sinking and grounding of the vessel, overturning, derailment of land conveyances, collision, jettison, washing overboard and loss of any container lost overboard or dropped whilst unloading on to or unloading from the vessel.

Similarly, the clauses contain a standard list of exclusions of which the principal exceptions are loss due to delay, the inherent nature of the goods, insufficient or inadequate packing, ordinary wear and tear, consequential loss or loss of market.

Institute Cargo Clauses (C): offer a more restricted form of cover relating to a number of named perils of a catastrophic nature, such as fire, explosion, stranding, sinking and grounding of the vessel.

The same principal exceptions as in the (A) Clauses apply.

War and Strikes Risks: the policy may be extended to cover the goods against loss of or damage caused by warlike activities whilst at sea or in the air and/or caused by rioters during civil commotions and strikes. The basic exclusions apply although it should be noted that the strikes element does not include expenses incurred where the goods are diverted from a strike bound port.

Similarly, the clauses contain a standard list of exclusions of which the principal exceptions are loss due to delay, the inherent nature of the goods, insufficient or inadequate packing, ordinary wear and tear, consequential loss or loss of market.

Underwriting Facilities With Top-class Insurers

We select our underwriters by the following criteria:

Financial strength
Marine Insurance knowledge
Customer-orientated claims philosophy
Loss prevention support

All of this in order to offer to our customers the smoothest service possible on underwriting claims.

High Policy Limits

We can, upon special request and for certain risks, provide for extended covers and limits for our customers. Before a cover is structured, a detailed analysis and assessment of the risk is required.