Cargo Insurance Terms & Conditions

Cargo Insurance Terms & Conditions

Excluding Sendings to or from Afghanistan, Armenia, Azerbaijan, Belarus, Burma/Myanmar, Crimea, Burundi, Democratic Republic of Congo, Egypt, Eritrea, Federal Republic of Yugoslavia & Serbia, Cuba, Iran, Iraq, Ivory Coast, Lebanon , Liberia, Libya, North Korea (Democratic People’s Republic of Korea), Republic of Guinea, Republic of Guinea-Bissau, Russia, Sierra Leone, Somalia, Sudan, South Sudan, Syria, Tunisia, Ukraine, Venezuela, Yemen, Zimbabwe Or any other country to which sanctions or export control restrictions are applied from time to time by the United Nations, European Union, United Kingdom or United States of America
  • Military goods listed under Schedules 1 and 2 of the UK Export Control Order 2008 as may be amended from time to time.
  • Livestock / Bloodstock / Fish catch and the likes
  • Targeted goods are cargo such as Boutique / Designer goods, tobacco, Cigarettes, cigars, Narcotics, Liquors, bottled wines, spirits, Electronic Components / Parts such as Mobile Phones / Handheld Portable Devices, Specie Risks such as Cash in Transit, Professional Cash Carriers, Armored Car Operators, Fine Art, Furs, watches, Jewellery, precious stones and precious metals, currency notes, coins, negotiable instruments, bar, ingots, Antiques, Paintings, Sculptures and the likes
  • Raw Cotton / Fish meal / Nuclear Fuel / Nuclear Waste / Project cargo with extension to coverable delay start up and or consequential loss.
  • Excluding shipments involving a tug towing two or more barges. Excluding ocean tow and or shipment via wooden vessel absolutely. Any tug and barge movement beyond a country’s territorial water is considered ocean tow.
 Applicable to Shipment by Sea
  • Institute Cargo Clauses (A) dated 1.1.09.
  • Institute Cargo Clauses (C) 1/1/09 – Applicable to Used/Secondhand Cargo
  • Institute War Clauses (Cargo) dated 1.1.09.
  • Institute Strikes Clauses (Cargo) Cl256 dated 1.1.09.
  • Cargo ISM Endorsement
  • Cargo ISPS Endorsement

  Applicable to shipment by Air (including Courier Services and Parcel Post)
  • Institute Cargo Clauses (Air) (excluding sendings by post)1.1.09
  • Airfreight Clause-Applicable to Used / Second hand cargo - attached
  • Institute War Clauses (Air Cargo) (excluding sendings by post) 1.1.09
  • Institute Strikes Clauses (Air Cargo) 1.1.09

  Applicable to Land Transit
  • Inland Transit Clause (All Risks) – attached
  • Inland Transit Clause (Restricted)-Applicable to used / second hand cargo attached
  • Institute Strikes Clauses (Cargo) 1.1.09

  Applicable to all
  • Including loading and unloading
  • Contracts (Rights of Third Parties) Act 2001
  • Excluding Rust Oxidation and Discolouration Absolutely
  • Excluding Mechanical, Electrical & Electronic Derangement Absolutely
  • Excluding inherent vice, mold, mildew, country damage, infestation, spontaneous combustion, heating, sweating or condensation absolutely
  • Cargo Termination of Transit Clause (Terrorism) (JC 2009/056)
  • Cargo Termination of Storage in Transit Clause-attached
  • Sanction Limitation and Exclusion Clause (JC2010/014)
  • Institute Cyber Attack Exclusion Clause 10/11/03 (CL.380)
  • Institute Radioactive Contamination, Chemical, Biological, Bio-chemical and Electromagnetic Weapons Exclusion Clause 10/11/03 (CL.370).
  • Institute Replacement Clause 1.1.34 CL161
  • No claims to attach hereto for damage to property hereby insured which may be sustained whilst the same is in use and/or being worked upon and directly resulting thereon Pair and set clause - attached

  • Warranted vessels used are classed as per Institute Classification Clause 1.1.2001 and below 30 years old
  • Warranted that all solid bulk cargo are shipped strictly in accordance to IMSBC Code (International Maritime Solid Bulk Cargoes Code) by International Maritime Organization at .
  • Warranted that all dangerous cargo must be shipped in accordance with the International Maritime Dangerous Goods (IMDG) Code.
  • Warranted that in the event of a claim for temperature sensitive cargo, devices such as Ryan Recorder reading etc. must be submitted to show the variation of temperature throughout the journey.
  • For Personal Effects shipments, any individual items with value exceed SGD5000 have to be declared prior to shipment. In the event of a claim, all relevant documents, such as valuation report, invoice and or documents supporting the values of the cargo prior to the loss and or damage must be submitted for consideration.
  • Applicable to all type of shipments, it is warranted that all points of entry must be securely locked when vehicles are left unattended.Failure to comply with the aforesaid warranties will rend the policy null and void
  • For cargo shipped in bulk and or break bulk condition
    • An excess of 0.5% of total Sum Insured for each and every claim
  • For shipment of personal effect and or targeted goods and or temperature sensitive cargo and or for tow shipments.
    • An excess of 1% of Total Sum Insured for each and every claim