Tokio Marine Cargo Insurance covers for any loss or damage to your cargo during transit by ICE Logistics.
It provides you with indemnity and financial protection for loss of or damage to your cargo.
1. INSTITUTE CARGO CLAUSE (A)
Risk
Covers all risk of loss of or damage to the subject matter, unless excluded by the provisions of clauses.
General Average
Covers general average and salvage charges.
Both to Blame Collision Clause
This insurance indemnities you for any risk insured herein, against liability incurred under any Both to Blame Collision Clauses in the contract of carriage.
2. INSTITUTE CARGO CLAUSE (B)
Risk
Covers loss or damage to the subject-matter insured reasonably attributable to:
- Fire or explosion
- Vessel or craft being stranded grounded sunk or capsized
- Overturning or derailment of land conveyance
- Collision with any external object
- Jettison or washing overboard
- Entry of water into vessel
3. Premium
The premium rates will be depending on:
- Sum Insured
- Freight cost
- Other factors
Cost | USD 10,000 |
Freight | USD 100 |
Sum Insured | USD 10,100 |
Premium Rate | 0.15% |
Premium | |
USD 10,100 x 0.15%. = | USD. 15.15 |
4. This is general information and is not an insurance contract / agreement between Tokio Marine Insurance with ICE and Your Company. Detail terms and conditions will be referred to the policy. It is crucial that you read and understand the policy's terms and conditions well.