Marine Cargo Policy

What we cover

During the course of transit from one place to another, the cargo encounters numerous risks which might result in its loss or damage. GIC offers different types of solutions to almost all types of cargoes whether being imports, exports or local in-land shipments which may be transported by means of Sea, Air, Land or Parcel Post. We offer protection against All Risks or against certain Named Perils and we tailor our policies/products to suit the specific requirement of our customers. The protection we offer includes coverage against Total loss/ Partial loss or damage/ General Average/ Salvage Charges and other related expenses.

Type of Policies

• Specific Policies – These policies are designed in a way to cover a particular voyage or shipment of cargo.
• Open Policies – These are special type of policies issued for customers who have large number of shipments with significant turnover. Open policy will reduce the burden of obtaining our quote against each shipment. These policies are issued to cover all shipments as defined in the open policy during a specified period of time.

The above polices offer coverage towards


• Physical Loss &/or Damage to cargo associated with Non Political Marine / Voyage Risks.
• Physical Loss &/or damage to cargo due to perils associated with Political Risks such as War/Strikes, Riots, Civil Commotion/ Terrorism risks including described act of terrorism.

Special Type of Policies/Covers

• Consequential loss due to an insured marine peril with the cargo policy.
• War on land.
• Policies specifically designed to cater the unique requirements of high risk areas.
• Fine Art and Specie.
• Rejection Risks
• Physical loss/damage to cargo due to delay caused by an Insured Peril.

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