Cargo insurance

Insurance object is a property interests of Insured relating to owning, use and disposal of cargo and arising due to its damage or total loss (loss) at transportation.

Insurance agreement may be concluded on one of the following conditions basis:

Conditions А. «All risks»

The following losses shall be indemnified under insurance agreement concluded on this condition:

a) losses from destruction or damage of all insured cargo or it’s part, incurred due to any cause;
b) all necessary and expedient expenses incurred by Insured in order to save cargo or reduce losses and determine its amount, if the losses is to be indemnified on insurance conditions.

Conditions B. «Partial average».

The following losses shall be indemnified under insurance agreement concluded on this condition:

а) losses from destruction or damage of all insured cargo or it’s part due to lightning, storm, whirlwinds or other natural disasters, crush or collision of transport facilities, thump on immovable and movable objects, derailment of railroad cars, vessel grounding, fire, explosion, damage by smoke, vessel damage with ice, overboard water dumping as well as due to fire fighting measures;
b) losses because of transport facility missing with cargo;
c) losses from destruction or damage of all insured cargo or it’s part due to accident at loading, stowage, unloading and at fuelling of transport facility;
d) all necessary and expedient expenses incurred by Insured in order to save cargo or reduce losses and to determine their amount, if losses shall be indemnified on insurance conditions.

Conditions С. «Total loss of cargo»

The following losses shall be indemnified under insurance agreement concluded on this condition:

а) losses of all cargo due to crush of transport facilities caused by lightning, storm, whirlwinds or other natural disasters, crush or collision of transport facilities, thump on immovable and movable objects, vessel grounding, fire, explosion, vessel damage with ice, overboard water dumping as well as due to measures of fire fighting;
b) losses because of transport facility missing with cargo;
c) all necessary and expedient expenses incurred by Insured in order to save cargo or reduce losses and to determine its amount, if loss is to be indemnified on insurance conditions.

Amount of Sum insured is determined by Parties’ agreement with account of actual value in the country of acquisition, and also expenses of transportation, storage and payment of customs duties in accordance with confirmed documents.

Insurance coverage is provided for the period starting the cargo shipping date from the point of departure and terminate in following cases:

• cargo is delivered to destination point (place) (last place of cargo unloading from transportation facility), or
• period of intermediate storage exceeds the period indicated in insurance agreement, or
• on the expiry of period of cargo delivery indicated in insurance agreement to destination point (place).

Insurance agreement can be concluded for a single carriage and due cargo storage, or transportation and storage of uniform cargo during the definite period of time stipulated by the insurance policy/agreement.

Please commit your care to us, we are always with you whatever happens…