Marine Insurance

The goods are insured in accordance with the international freight insurance standards based on London Institute Cargo Clauses and the most basic are the following:    

• Institute Cargo Clauses (A) 1/1/09 – covers damage or loss of the goods transported for any reason other than the risks specifically excluded.
• Institute Cargo Clauses (B) 1/1/09 – These Clauses cover any damage or loss of the transported goods from the named risks covered by the Institute Cargo Clauses (C) 1/1/09 plus earthquake, volcanic eruption or lightning, inflow of sea or fresh water into the means of transport, container or storage area, drift of cargo by wave and total parcel loss during unloading.
• Institute Cargo Clauses (C) 1/1/09 - These Clauses offer limited coverage against the following named dangers: Explosion, fire, landfall or sinking of a ship, overturn or derailment of inland transport, impact or collision with another ship object, forced unloading of cargo carried to a port of refuge, voluntary dumping of cargo at sea and sacrifice of General Avarija.