Customer Insurance Policy

 

Price quotes for an independent policy - a policy to the name of the customer that is tailored to its scope and requirements.

 

A one-time policy - a one-time coverage may be furnished for special freights.

 

Rates - due to the independence of the agency and its size, the customers of Kislev enjoy flexible and competitive rates at the insurance company.

 

Cargo Insurance Policy - Appendix

 

The list of irregular goods that are not covered, unless a confirmation is furnished by the insurance company, subject to the conditions dictated prior to initiation of coverage:

 

All types of food products;

 

Fragile goods;

 

Hides;

 

Used equipment/equipment sent for repair (C coverage);

 

Jewelry, gems, precious metals;

 

Documents, stamps, money;

 

Artifacts and antiques;

 

Military equipment and all types of weapons;

 

Animals;

 

Cigarettes, tobacco, etc;

 

Freights in bulk carriers;

 

Personal items;

 

All types of agricultural products: plants, sprouts, seeds, etc;

 

Equipment loaded on deck (C coverage);

 

Equipment loaded on flat, open-side or open-top containers (C coverage);

 

Medicines;

 

Concrete;

 

Mobile computers;

 

Cellular phones;

 

 

 

 

 

 

 

 

Important Information

 

The Large Letters of the Marine Cargo Insurance Policy

 

 

Since 1982, new versions of the marine policy have been introduced in England and, consequently, also in many other countries around the world, including Israel.

 

The main difference that came into effect at that time was in the form and structure of the policy, whereby there was no substantial difference in the scope of coverage, in the rights and duties of the parties and the in coverage itself.

 

The main objective of the new basic policies was to simplify the previous policies, which were formulated in English that was hundreds of year old. The new policies had a much clearer form and structure, and were written in contemporary English that is comprehensible to all. Such a policy is a legitimate contract for all purposes, and states that the policies shall be subject to English Law. There are three main types of Marine Cargo Insurance Policies, which were in turn classified into the English alphabet: Institute Cargo Clauses "A", "B" and "C".

 

 

Institute Cargo Clauses "A" - "All Risks" Policy

 

Institute Cargo Clauses "A" Policy is the most comprehensive and is also known as "All Risks". It is very important to point out that, as in all "All Risks" policies, even in this broad basic coverage there are substantial exceptions and limitations that shall be specified hereunder. This type of coverage, i.e. "All Risks", means that various risks are covered, excluding the exceptions outlined in the policy. The risks that are covered by this policy are the conventional risks at sea: drowning damages, storms, vessel runs aground, loss of cargo in the water, loss, fire, breakage, theft, etc. The coverage also includes the expenses incurred due to general average and utilization expenses, and the liability of the insured towards the sea freighter in the event of a collision at sea. As aforesaid, there are also exceptions in this policy, which are explicitly stated and must be learnt and not forgotten when insuring a marine cargo or when offering a customer to insure such cargo.

 

And these are the exceptions to Institute Cargo Clauses "A": (1) Damage or loss stemming from the willful misconduct of the insured. (2) Ordinary leakage, ordinary losses in weight or volume or ordinary wear and tear. (3) Insufficient or unsuitability of packing or preparation of the subject matter insured. (4) Inherent vice or nature of the subject matter insured. (5) Damages due to hold-ups and delays. (6) Damages due to insolvency or financial default of carrier. (7) Radioactive radiation or atomic explosion. (8) Loss, damage or expense due to non-seaworthiness of the vessel, insofar as the insured was aware of it. (9) Damages from war, civil war or civil strife. (10) Capture or seizure of vessel. (11) Derelict mines torpedoes or other derelict weapons of war. (12) Strikes and lock-out. (13) Acts of terrorism or damages caused on a political basis.

 

It is in most cases conventional that the insurants extend the coverage, for an additional premium, to risks of war - extension, which annuls exception No.9.

 

 

Institute Cargo Clauses "B" Policy

 

In this Policy, the coverage is more limited than "All Risks" and, contrary to the latter, this Policy explicitly states the risks covered by it, i.e. any damage or loss that is not covered in the framework of the explicit risks, or appearing in the list of exceptions - is not insured

 

Coverage in this Policy includes: (1) Fire or explosion. (2) Stranding, grounding, sinking or capsize of vessel. (3) Overturning or derailment of land conveyance. (4) Collision or contact of vessel/conveyance with any external object other than water. (5) Discharge of cargo at port of distress. (6) Earthquake, lightening and volcanic eruption. (7) General Average Sacrifice. (8) Washing or casting overboard. (9) Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, liftvan or place of storage. (10) Total loss of any package lost overboard or dropped whilst loading or unloading vessel or craft. (11) General Average Sacrifice expenses and utilization expenses. (12) Liability of the insurant towards the sea freighter in the event of collision.

 

 

Institute Cargo Clauses "C" Policy

 

A "C" insurance coverage for cargos is very limited and, similar to type "B", it explicitly states the covered risks. Upon review of the above list of risks, it is clearly evident that some of the risks that appear in the "B" type policy do not appear in the "C" type policy.

 

Coverage in this Policy includes: (1) Fire, explosion. (2) Stranding, grounding, sinking or capsize of vessel. (3) Overturning or derailment of land conveyance. (4) Collision or contact of vessel/conveyance with any external object other than water. (5) Discharge of cargo at port of distress. (6) General Average Sacrifice. (7) Casting overboard. (8) General Average Sacrifice expenses and utilization expenses. (9) Liability of the insurant towards the sea freighter in the event of collision. As aforesaid, all the damages or incidents that do not appear hereinabove are not insured under this policy, including the list of exceptions appearing in the Policy (similar to "A").

 

 

The Determining English Version

 

Let it be noted that, beside the three basic types of coverage in Marine Cargo Insurance, which we have reviewed, there are also other more specific insurances that are dependent on the type of cargo. Furthermore, it is also conventional practice to add to "All Risks", respective of the type of goods, other limitations and conditions, including deductibles. It is important to remember that also in Type "A" insurance, a cargo that is not entirely new or a cargo that is loaded on the ship's deck will only be insured according to "C" risks, unless the insurant receives an explicit confirmation from the insurance company stating otherwise. The translated version of the various clauses hereinabove are translated non-empirically and, in any event, the original English version shall prevail, as set forth by The Institute Marine Cargo London.

 

 

Kislev - Marine Insurance Agency (2003) Ltd.

 

POB 111, Lod 71100, Tel: 08-9182875, Fax: 03-7600659