GROUP 1

TYPES OF
MARINE
INSURANCE
Products and Services
for Savvy Travelers
 WHAT IS
“MARINE CARGO
INSURANCE"?
It is a policy affected to provide
compensation for loss or damage to
goods during transit from seller’s
warehouse to the buyer’s warehouse.
 WHAT IS
“MARINE CARGO
INSURANCE"?
and it is available in a variety of
guarantees (clauses) by land, sea
and air for various types of
cargo / good load bulk, liquid,
solid, general cargo, minerals, and
others, namely:
 INSTITUTE CARGO
CLAUSES A/B/C

MARINE
INSTITUTE CARGO
CARGO CLAUSES (AIR)
INSURANCE
VARIATIES
INSTITUTE COAL
CLAUSES
 INSTITUTE BULK OIL
CLAUSES

MARINE
INSTITUTE FROZEN
CARGO FOOD CLAUSES
INSURANCE
VARIATIES
INSTITUTE MEAT
CLAUSES
INSTITUTE OF
CARGO
CLAUSES
(AIR)
Insurance guarantee
of transporting
goods by air (air
cargo)

Berou Solutions, Inc. | 2020

INSTITUTE COAL CLAUSES

Insurance guarantee on coal

transportation which generally
uses barges and tug boats in
domestic or using bulk carriers
abroad.

INSTITUTE BULK OIL CLAUSES

Guaranteed oil insurance such as diesel,

premium, palm oil (CPO) other liquid
minerals that use tankers.
This clause guarantees Leaks
from connecting pipes during "loading,
transhipment or discharge"
and Contamination caused by "bad weather"
 Institute Frozen
Food / Meat
Clauses
Insurance guarantee for transporting frozen food
or meat such as ice cream, cheese, meat, fish and
other processed foods that use reefer
containers. This clause guarantees losses due
to malfunctioning of the engine
temperature container.
INSTITUTE
CARGO CLAUSES
A/B/C
It is an insurance for the
transportation of general
cargo goods in containers
or bulk such as iron,
cloth, rice, food and
beverages, etc., Institute
Cargo Clauses A / B / C
applies to shipments by
sea as well as for inland
transits .
INSTITUTE
CARGO CLAUSES
A/B/C
There are three basic sets
of institute cargo
clauses; A, B, C. Just
like you are able to get
insurance on smaller,
domestic packages; bulk
freight is insured too.
INSTITUTE
CARGO CLAUSES
A/B/C
These clauses were
developed by the
International Chamber of
Commerce as a means of
insurance for cargo while
it is being shipped from
the original location to
its final destination.
Applies to all The amount It will choose the
most appropriate
means of compensated is
insurance
transportation calculated based on conditions
the value of the
cargo

Insurance Benefits
 THE THREE CLAUSES

Total Coverage. Partial Cargo Less Coverage

Coverage.
Each of
the institute cargo
clauses are
reserved for goods
in transit. The
items being shipped
are
considered goods in
transit when they
have departed the
original location
and are in transit
to the final
destination.

Berou Solutions, Inc. | 2020

When goods
are insured during
transport, whether
it be by land, air
or sea; it means
that if the cargo
is damaged or lost
during transit it
will be refunded or
replaced to
whichever party
held the
“technical”
ownership.

Berou Solutions, Inc. | 2020

For instance, the
receiver of the
shipment may not
claim it on their
inventory until it
is actually
received in which
case the shipper
still holds
ownership.

Berou Solutions, Inc. | 2020

Should
the insured cargo
be damaged, the
shipper will
receive the
benefits of the
insurance for their
goods and the
purchaser will be
issued a refund.

Berou Solutions, Inc. | 2020

Having the
cargo insured is a win-
win for both parties.