Marine Cargo Insurance

marine insurance

This class of insurance provides compensation to the cargo owner in the event of loss of or damage to the cargo whilst in course of transit between one country and another either by sea or by air.

In view of the huge capital outlay, marine insurance cover is to protect you against any losses that may occur while your goods/products are being shipped into or out of the country.

Cover can be taken up either as an All Risk Policy – ICC A (covers total or partial loss of goods) or as a Restricted Policy Cover – ICC C (covers total loss only).

The premium rate applied will depend upon the nature and value of goods being imported, the type of cover required as well as the country of origin.

 

Authorised and Regulated by the National Insurance Commission (RIC 023)