MARINE CARGO INSURANCE Q U O T A T I O N

MARINE CARGO INSURANCE
Q U O T A T I O N

Type of Coverage   : Marine Cargo Insurance

The Insured : PT. ABC WORLDWIDE INDONESIA QQ CLIENTS for their respective rights and interests

Address                 : Plaza ABC, 22nd Floor Suite 123, Jl. Jend. Sudirman Kav. 25 Jakarta, Indonesia

Period of Insurance : Continuous Open Cover effective from date to be adviced subject to 30 (thirty) days Notice of Cancellation in writing by either party except for war risks, strikes and malicious damage where 7 (seven) days Notice of Cancellation shall apply.Such cancellation and/or alteration however shall not affect cover provided hereunder in respect of declarations or certificates or cover notes already issued.

Interest Insured      : Various General Cargo – Subject to declaration.

Packing Method     : Sufficient and suitable packing in accordance with the subject matter of insured (Container, Non Container and Truck)

Voyage                   : Inland & Inter Island Transit:

From & To              : the Insured’s warehouses anywhere in Indonesia Import - Export
From                       : country of origin worldwide including USA, European Union, Australia, New Zealand, etc
To                          : the Insured’s warehouses anywhere in Indonesia or vise versa Excluding shipment from/to war risk countries below:
Colombia, Georgia (abkhzia, south Ossetia), Afganistan, Angola, Burundi, Rusia (Chechnya, Dagestan, Ingushetia), Congo-Kinshasa (DR Congo), Congo-Bazzaville, Eritrea, Haiti, Iran, Iraq, Israel and the PA, Ivory Coast/West Africa, Liberia, Nepel, Nigeria, North Korea, Pakistan, Rwanda, Saudi Arabia, Somalia, Sri Lanka, Tajikistan, Ukraine, Yemen, Zimbabwe, Sudan, Chad, Bangladesh, Kenya, Algeria, Niger, India (Kashmir and Assam)

Vessel / Conveyance   : Sea Transit
Self propelled steel vessel, ocean going steel vessel subject to Institute Classification Clause 1/1/2001 and amended to include BKI Classes, with minimum Gross Tonnage (GRT) of 100 and not exceeding 25 years of age Excluding shipment by Wooden vessel, Tugboat, Barge and LCT
Land Conveyance (By Truck) covered by Tarpauline, Truck or Box must be in a road worthy condition as regulated in Indonesian traffic law

Limit of Liability       : USD 5,000,000.00 maximum value insured per shipment per vessel

Basis of Valuation    : As declared, but in the event of loss prior to declaration the basis of valuation to be Cost, Insurance and Freight (CIF) plus 10%

Terms & Conditions : Option 1
• Institute Cargo Clause “A” 1/1/82
• Institute War Clause (Cargo) 1/1/82
• Institute Strike Clauses (Cargo) 1/1/82
• Institute Theft, Pilferage and Non Delivery Clause 1/1/82
• Institute Replacement Clause 1/1/34
• Warehouse to warehouse
• Institute Classification Clause 1/1/2001 amended to include BKI Classification
• Institute Radioactive Contamination, Chemical, Biological, Bio Chemical and Electromagnetic Weapons Exclusion Clause 10/11/2003
• Institute Cyber Attack Exclusion Clause 10/11/03
• Institute War Cancellation Clause (Cargo)
• Electronic Date Exclusion Clause
• Excluding Rusting, Oxidation, Discoloration, Scratching, Denting, Bending, Contamination, Fungidation and Moulding
• Excluding mechanical, electrical & electronic derangement
Deductible / Excess : 0.50% of Total Sum Insured minimum US$ 250 any one accident in respect of other losses
Rate : 0.15%

Terms & Conditions : Option 2
• Institute Cargo Clause “B” 1/1/82
• Institute War Clause (Cargo) 1/1/82
• Institute Strike Clauses (Cargo) 1/1/82
• Institute Replacement Clause 1/1/34
• Warehouse to warehouse
• Institute Classification Clause 1/1/2001 amended to include BKI Classification
• Institute Radioactive Contamination, Chemical, Biological, Bio Chemical and Electromagnetic Weapons Exclusion Clause 10/11/2003
• Institute Cyber Attack Exclusion Clause 10/11/03
• Institute War Cancellation Clause (Cargo)
• Electronic Date Exclusion Clause
• Excluding Rusting, Oxidation, Discoloration, Scratching, Denting, Bending, Contamination, Fungidation and Moulding
• Excluding mechanical, electrical & electronic derangement
Deductible / Excess : 0.50% of Total Sum Insured minimum US$ 250 any one accident in respect of other losses
Rate : 0.12%

Terms & Conditions : Option 3
• Institute Cargo Clause “C” 1/1/82
• Institute War Clause (Cargo) 1/1/82
• Institute Strike Clauses (Cargo) 1/1/82
• Institute Replacement Clause 1/1/34
• Including Loading & Unloading Risks
• Warehouse to warehouse
• Institute Classification Clause 1/1/2001 amended to include BKI Classification
• Institute Radioactive Contamination, Chemical, Biological, Bio Chemical and Electromagnetic Weapons Exclusion Clause 10/11/2003
• Institute Cyber Attack Exclusion Clause 10/11/03
• Institute War Cancellation Clause (Cargo)
• Electronic Date Exclusion Clause
• Excluding Rusting, Oxidation, Discoloration, Scratching, Denting, Bending, Contamination, Fungidation and Moulding
• Excluding mechanical, electrical & electronic derangement
Deductible / Excess : Nil
Rate : 0.10%

Underwriters : PT. Asuransi XYZ Indonesia (Share: 100%)
Date of issue : 10 May 2009
marine-cargo-insurance-claims-procedure

Annual Marine Cargo Insurance PDF