MI Insurance would tailor-made Marine Cargo insurance solution to meet any particular trading circumstances that may be unique to your business. This ensures your goods-in-transit with the most suitable coverage from the ranges of clauses.
The common clauses are ICC-A ( All-risks cover ), B & C, which are all defined in the Institute Cargo Clauses & are adopted worldwide, also applicable to “dry cargoes” at your choice.
Hull & Machinery ( H&M ) insurance is fundamental protection of a vessel against loss or damage during the voyage or when moored. A typical H&M policy insures the vessel, machinery & equipment at full value, also provides coverage for following items: –
- Costs of repairing physical loss or damage to a vessel.
- Reimbursement following total loss of a vessel ( Actual & Constructive )
- Expenses to prevent loss ( Sue & Labour, Salvage & GA contributions )
- Collision Liability
- Expenses associated with claims ( survey fees etc )