Marine Insurance

Marine Cargo Insurance
Asia Marine Cargo Insurance provides shield to the goods being transported by Ocean, Air and on land through Rail/Road. For those fearing the financial loss should the cargo be damaged or destroyed, Asia Marine is the best choice. Marine Cargo Insurance provides cover against any possible damages during transit by making up and minimizing the financial loss due to such damages. Cargo whilst in transit is vulnerable and susceptible to loss and damage due to various causes, such as breakage, moisture, water damage, shortages, theft, non-delivery etc. It is also exposed to various maritime liabilities of general average, salvage, sue and labor. The financial impact to owners due to operation of any of these perils is largely mitigated by Asia Marine Cargo Insurance.

CATEGORIES
Import Policies
Provides coverage to cargo brought to Pakistan from any part of the world.
Export Policies
Covers cargo transported from Pakistan to any specific destination, anywhere in the world.
Inland Transit Policies
This part of insurance caters for movement of cargo from one place to another within territorial limits of Pakistan.

IMPORTS AND EXPORTS (OCEAN VOYAGES):
All Risks Coverage under ICC (A)
This is the widest coverage under Marine Cargo Insurance and as the name suggests this is an all risks coverage (including general average and salvage charges) with some standard exclusions.
Coverage under ICC (B)
is restricted to loss or damage to cargo due to fire or explosion, grounding of vessel/craft, collision of vessel/craft with external object, accident to land conveyance, discharge of cargo at a port of distress, earthquake, volcanic eruption or lightning, jettison or washing overboard, entry of sea, lake or river water into the vessel/craft, total loss of any package lost or dropped while loading or unloading to/from vessel/craft, general average and salvage charges.
Coverage under ICC (C)
Scope of coverage is further restricted to cover loss or damage to cargo due to fire or explosion, grounding of vessel/craft, collision of vessel/craft with external object, accident to land conveyance, discharge of cargo at a port of distress, jettison, general average and salvage charges.

ALL RISKS BY AIR (ICC AIR)
An All Risk Coverage for loss or damage to cargo due to operation of marine perils.

COVER TYPE: INLAND TRANSIT
All Risks Coverage under Rail/Road clause (A)
This provides all risks coverage to cargo on any transport during transit within Pakistan.
Coverage under Rail/Road Clause (B)
Coverage is restricted to loss or damage to cargo as a result of accident to carrying conveyance only.

Marine Hull Insurance
Asia Marine Hull Insurance covers the vessels against any unforeseen accident whilst at high seas or anchored/moored at any harbor.

Our Hull policy covers loss or damages to the ship’s hull and machinery caused by maritime perils;
• Of the seas, rivers, lakes or other navigable waters
• Fire and explosion
• Violent theft by persons from outside the vessel
• Jettison
• Piracy
• Contact with land conveyance, dock or harbor equipment or installation
• Contact with aircrafts, helicopters or similar objects, or objects falling there from
• Earthquake, Volcanic eruption or lightning
• Accidents in loading, discharging or shifting cargo or fuel
• Bursting of boilers, breakage of shafts or any latent defect in the machinery or hull
• Negligence of Master Officers, Crew or Pilots
• Negligence of repairers or charterers
• Barratry of Master Officers or Crew
• General average and Salvage charges, sue and labour
• 3/4th Collision Liability.