Shipping

Object of insurance

The object of insurance is the property interests of the Insurer (the Beneficiary) associated with the possession, use and/or disposal of the cargo, as well as the risk of its loss (destruction) or damage during transportation and storage, regardless of the method of transportation.

Insurance risk. Insurance event

Under the insurance contract, the risk of loss (destruction) or damage of the cargo during its transportation, regardless of the method of transportation, as well as during storage of the cargo in accordance with the selected insurance conditions, is insured.

The insurance contract may be concluded on the basis of the conditions determined by the following conditions:

Conditions A - “With responsibility for all risks”. Under the insurance contract concluded on these terms and conditions, indemnified:

damage from loss (destruction) or damage of all or part of the insured cargo, which occurred for any reason, except for cases provided for by the Insurance Rules; damage, expenses and premiums for general average, except for the cases provided for by the Insurance Rules; all necessary and expedient expenses incurred by the Insurer in order to save the cargo or reduce the loss and determine its amount, if the damage is subject to compensation under the terms of insurance.

Conditions B - “With liability for partial accident”. Under the insurance contract concluded on these terms, except for the cases provided for by the Insurance Rules are reimbursed:

damage from breakage or loss of all or part of the cargo due to lightning, storms, whirlwinds or other natural disasters, wreckage or collision of vehicles with each other, hitting them against fixed or moving objects, ship stranding, fire, explosion, damage to the ship by ice, wetting with sea water, as well as due to measures taken to extinguish the fire; damage due to the loss of the means of transport along with the cargo; damage from breakage or loss (destruction) of all or part of the cargo due to an accidental event during loading, stowage, unloading of cargo and when refueling the vehicle with fuel; damage, costs and contributions in general accident; all necessary and expedient expenses incurred by the Insurer in order to save the cargo or reduce the loss and determine its amount, if the damage is subject to compensation under the terms of insurance; damage from the death of animals and birds and from accidents with them, from leakage and crushing of cargo, from broken glass, porcelain, earthenware, ceramics, marble and products made from them, bricks and other items subject to breaking, only if this the damage was caused by the crash of the vehicle.

Conditions C - “No liability for damages except in the event of a crash”. Under the insurance contract concluded on these terms, are reimbursed, except for the cases provided for by the Insurance Rules:

damage from the complete loss (destruction) of all or part of the cargo due to lightning, storms, whirlwinds or other natural disasters, wreckage or collision of vehicles with each other, their impact on fixed or moving objects, vessel grounding, fire, explosion, damage to the vessel by ice, wetting with sea water, as well as due to measures taken to extinguish a fire; damage due to the loss of the means of transport along with the cargo; damage from the complete loss (destruction) of all or part of the cargo during loading, stowage, unloading of cargo and when refueling the vehicle; damage from breakage of all or part of the cargo due to wreckage or collision of vehicles  with each other, their impact on fixed or moving objects, vessel grounding, fire, explosion, damage to the vessel by ice; damage, costs and contributions in general accident; all necessary and expedient expenses incurred by the Insured in order to save the cargo or reduce the loss and determine its amount, if the damage is subject to compensation under the terms of insurance; damage from the death of animals and birds and from accidents with them, from leakage and crushing of cargo, from broken glass, porcelain, earthenware, ceramics, marble and products made from them, bricks and other items subject to breaking, only if this the damage was caused by the crash of the vehicle.

In addition to each of the conditions listed above, the Insured may insure the risk of loss (destruction) or damage to cargo during storage for an additional insurance premium, if the insurance contract provides for intermediate storage of cargo or its temporary storage at the destination. Damage from the loss (destruction) or breakage of all or part of the cargo is also compensated, if it arising as a result of:

fire, explosion; wetting or flooding with groundwater, as well as as a result of an accident in the plumbing, heating or sewer systems; illegal actions of third parties (theft, robbery, attack, intentional damage or destruction of cargo, etc.); natural disasters.

A specific list of insurance risks is indicated in the insurance contract.

By agreement of the parties, other insurance risks may be specified in the insurance contract.