Cargo insurance on the basis of “Institute Cargo Clauses” (ICC) A, B, C conditions

The main concern of ours – carrying the freights of our clients in a quality and timely manner. With the expansion of cargo transportation routes, the cargos may be carried by several vehicles till they reach their final destination. This is the reason why the risks related to their transportation and possible losses increases.

For the purposes of successful implementation of our commitments to the clients and decreasing the possibility or risks related to the damage or loss of the cargo under transportation, we have carriers’ civil liability insurance. Taking into consideration the practical aspects related to the compensation for the loss of the freight or its damaging, the civil liability insurance does not cover the damages and losses in full 100 per cent. For this reason, and especially for our clients who need to transport big value and high-importance cargos, we would like to offer a reliable solution – insurance of their cargos on the basis of ICC (A, B, C) conditions. This insurance provides comprehensive protection from sudden or unexpected events which can damage the cargos transported by road, sea, railroad, and air transport.

These cargo insurance conditions (A, B, C) depend on the cargo type. This insurance can be used for the cover of damages of all value of the cargo and for the declared possible additional losses which can include customs office, valuation, and other related taxes and fees which may appear due to partial or full loss of the freight.

 

Benefits of this insurance:

–       Applies to all types of transport.

–       The compensation for losses is estimated from the value of the cargos.

 

How this insurance protection is applied?

This insurance covers the losses if the insured cargo is lost or damaged in relation to the events mentioned below if not otherwise stated in the cargo agreement:

Separate circumstances for cargo loss or damage  ICC A conditions ICC B conditions ICC C conditions
Sailing on shoal, stucking, sinking, overturning of the ship or any similar event YES YES YES
Overturning or rollover of the land transport vehicles YES YES YES
Collision of ships or other means of transport YES YES YES
Collision with any other objects except for the means of transport (with the exception of water transport) YES YES YES
Forced unloading at airports YES YES YES
Fire or explosion YES YES YES
Earthquake, volcano eruption or lightning strike YES YES NO
Malicious acts of the third persons YES NO* NO*
Thefts and pilferage YES NO NO
General accidents YES YES YES
Forced throwing overboard YES YES YES
Washing off from the deck YES YES NO
Risks of war, riots, and strikes NO* NO* NO*
Piracy YES NO NO
Water penetration into the ship, place of storage, container, or any other transportation unit YES YES NO
Loss at loading/unloading (only in cases of full loss) YES** YES NO
Any other risks of physical cargo loss or damage not defined above YES NO NO

 

(*) – Can be agreed additionally;

(**) – Also valid in cases of partial loss or partial damage.

 

Our staff, having evaluated your needs, will select the best insurance conditions for your cargo, and for this reason you will not need to contact any insurance companies.

You can send us your enquiry regarding the insurance to:

info@tlclogistics.lt