Cargo

Object of insurance

1. The object of insurance is the property interests of the Insured, subject to insurance protection during transportation, reloading and storage of cargo in transit.

2. Insurance contract is made on the basis of one of the following terms:
" А " - "responsibility for all risks";
" В " - "responsibility for partial average";
" С " - "no responsibility for damage besides the cases of wreck ".

3. Under an “ A ” insurance contract (“responsibility for all risks”), the compensation is stipulated for:
a) all losses as a result of damage or complete wreck of the cargo completely or partially ;
b) costs, losses under a general average;
c) all necessary and reasonably incurred costs to save the cargo, to minimize the damage.

4. Under a “ B ” insurance contract ("responsibility for partial average") all losses as a result of damage or complete wreck of the fright completely or partially are compensated, if these happened because of:
a) fire or explosion;
b) shipwreck, grounding, overturning of a sea or river craft;
c) overturning or derail of a vehicle during ground transportation;
d) collision or contact of the craft or other vehicle by another object excluding water;
e) discharge of the cargo in a safe port;
f) costs, losses under general average;
g) earthquake, collusion of nature or thunderbolt;
h) being swept overboard;
i) leakage of a sea, lake, or river water into a vehicle, a container with cargo or the storage place;
k) complete loss of the fright or its part as a result of fall overboard when loading or discharging.
Also all necessary and reasonably incurred costs to save the cargo, to minimize the damage are compensated.

5. Under a “ C ” insurance contract ("no responsibility for damage besides the cases of wreck ") the losses as a result of damage or complete wreck of the cargo entirely or partially are compensated if these happened because of:
a) fire or explosion;
b) shipwreck, grounding, overturning of a sea or river craft;
c) overturning or derail of a vehicle during ground transportation;
d) collision or contact of the craft or other vehicle by another object excluding water;
e) discharge of the cargo in a safe port;
f) costs, losses under general average;
g ) being swept overboard.

All necessary and reasonably incurred costs to save the cargo, to minimize the damage are compensated.

Insurance money

The insurance money is established by agreement of the parties but can not exceed the actual cargo cost listed in the waybill.
The actual cost of the cargo is established on the basis of its initial cost at the place and at the time of loading considering the costs defined by the cargo sales contract (FAS, FOB, CIF, etc.).

Rates

The rates and the final cost of insurance are established considering the term of insurance, the set of insured dangers and factors influencing the risk degree.

You can ask for a personalized quote at the offices of « ORIEN INSURANCE » using contact details.