Details of coverage

Marine Cargo Insurance

Marine Cargo Insurance covers loss of or damage to insured goods that are being transported from a start point to a destination where the goods are delivered to a recipient according to the Incoterms. The insurance covers risks that may occur to the goods as follows.
Covered Risks Loss of or damage to the insured goods caused by Institute Cargo Clauses
A B C
Fire, Explosion
Capsized vessel, submerged vessel, collided vessel
Vehicle overturn or collision, train derail
Discharge of cargo at a port of distress
General Average
Jettison
Sue & Labour Charges
Earthquake, Volcanic eruption -
Sea waving overboard -
Total loss of any package lost overboard or dropped whilst loading on to or unloading from the vessel -
Entry of sea or river water inlet vessel, container, lift van or place of storage (excluding rain water damage) -
Rain water damage - -
Piracy - -
Theft - -
Other accidents that are not listed on no. 1-15 such as shattering, breakage, ripping, stain, damage to package during transportation. - -

**Insuring Condition

- The insured's name
- Name and type of insured goods
- Sum insured
- Route of transportation: departure city and destination city must be clearly specified. If the transshipment is needed, details of transshipment port must be provided
- Details of coverage and claim history (3 years dated back from present)



Inland Cargo Insurance Policy

The insurance covers goods of the insured from loss or damage occurred during transportation within Thailand. The vehicle used for the transportation must be registered including train, plane or vessel.

Inland Cargo Insurance Policy (Named Risk)

Coverage
  1. Fire, explosion or lightning
  2. Vehicle or goods is collided or contacted with something outside the vehicle (including tractor and trailer)
  3. Submerged vessel, capsized vessel, plane crash, train derail including vehicle overturn, veering off the road, bridge or shoulder
  4. Special risks as specified in the policy


Inland Cargo Insurance Policy (All Risk)

Coverage
  1. Loss of or damage to goods caused by accidents or external factors
  2. General damage, general average contribution and cost of rescue that the insured must pay according to the conventional practice or law


Insuring Condition

  1. Insured property
  2. The insured is a juristic person or not?
  3. Packaging or how the packages are prepared
  4. Scope and route of the transportation (start - destination)
  5. Vehicles used for transportation (Whose are they?)
  6. Which kinds of vehicles required for the transportation? (continues and multi type of transportation?)
  7. Terms and conditions of insurance policy (named risk/all risk/carrier liability)
  8. Claim history: 3 years dated back from present


Carrier's Liability Insurance Policy
Insured : Carrier or Logistic company
Coverage : Loss of or damage to the goods that the insured is hired to transport and be liable for (according to the Land Transport Act) or comply with the contract. Natural perils are excluded from the coverage
Covered route : Starting from loading goods to the vehicle until unloading at the agreed destination stated on hiring contract. The Company provides coverage in single transportation plan and annual plan.
Covered territory : Starting from manufacturer plant or warehouse in Thailand to another manufacturer plant or warehouse in Thailand or in neighboring countries as agreed as by case.
Documents/ information required for insurance application :
  1. Limit of Liability per time
  2. Carrier contract
  3. Number of truck
  4. Application form


MARINE HULL & MACHINERY INSURANCE POLICY
Insured : Owner of the ship
Period of Insurance : 1 year or per year
Coverage : There are 3 types
  1. Institute Time Clauses- Hulls Total Loss Only (Including Salvage, Salvage Charges, Sue and Labour)
    Covers the hull and machines elected on the insured hull that are damaged by fire, explosion, collision or submerging, rescue of shipwreck and rescue cost or relief cost. (CL.289)
  2. Institute Time Clauses - Hulls Total Loss Only, General Average, Collision Liability  (Including Salvage, Salvage Charges, Sue and Labour)
    Covers the hull and machines elected on the insured hull that are damaged totally by fire, explosion, collision or submerging. It covers general average, liability to the other party due to hull collision, rescue of shipwreck and rescue cost or relief cost. (CL.284)
  3. Institute Time Clauses - Hulls
    Cover is the same as no. (1) + (2) including repair cost of the insured hull (CL.280)
Documents /information required for insurance application :
  1. Ship registration certificate
  2. Purchase order
  3. Appraisal documents from bank (if any)
  4. Hull pictures
  5. Marine Hull Insurance Proposal