Marine Transit Insurance

Marine Transit Insurance is the insurance of goods in transit dispatched from and to any place and by means of sea, air, rail, or road. During the transit, the cargo is exposed to various types of perils from the time it moves from the warehouse of the supplier until it is received at the final warehouse of the consignee. This insurance provides coverage against both imports and exports.

Exclusions

• Willful misconduct.
• Ordinary leakage, loss in weight or volume.
• Insufficiency or unsuitability of packing or preparation of Subject Matter.
• Inherent Vice or Nature of Subject Matter.
• Delay, even though caused by an insured peril.
• Insolvency/Financial default.
• Misuse or loss of carrier's receipt.
• War and warlike perils, Derelict mines/bombs.
• Nuclear Risks.
• Strike, Riot, Terrorism (additional cover).
• Capture by legal authority.
• Unseaworthiness or unfitness of Vessel (Ocean Going Vessel).

Issued Date: 2004-11-17