Marine Cargo Policy covers loss or damage to cargo in transit by:
Government or private postal services
The coverage provided under these policies ranges from a restricted form of cover, e.g. Fire and Lightning perils only, to the widest available form of cover, namely, All Risks, at the option of the insured. The different types of polices are:
Specific Policy: Covers those specified risks under marine cargo sent or received during the policy period.
Open Policy: Provides automatic and continuous insurance protection to all shipments sent/ received during the policy period.
Open Cover: Similar to Open Policy, this variant covers loss or damage to cargo where a specific stamped certificate is issued for the declaration made.
Marine Cargo Insurance Policy Exclusions
The policy does not cover loss or damage to cargo insured due to: