Export Cargo
  • Cargo policies are freely assignable
  • Existence of Insurance Interest needs to be established only at the time of loss
  • The interpretation and applicability of various statutes, the legislation in various countries, the port conditions, customs procedures and the legal systems in various parts of the world, govern the operation and interpretation of a Marine Insurance Policy

Types of Policies

Specific Policy

The policy issued for a specified transit. The coverage under the policy will cease on completion of the transit contemplated

Open Policy

This is a policy intended to cover export movement of consignments for specified period of time which is usually one year. This policy is suitable for insured with numerous transactions throughout the year. The availability of the open policy facilitates the insured in having automatic and continuous cover and the insured is free to declare the consignment movement subject to the terms and conditions of the policy. The open policy is issued with an initial sum insured which can be enhanced at policy rate any time during the currency of the policy

UIN no. IRDAN123P0063V01200203

Toggle Widget