INSURANCE

Inland carriers bear responsibility for any damage of goods. Numerous unavoidable perils found at sea. Ocean carriers refuse to accept any liability for loss or damage . To protect against loss or damage marine insurance

 Marine cargo insurance Covers loss or damage at sea. The purpose of this insurance is to export shipments against loss or damage in transit . Arranged either by buyer or seller. Two basic forms of marine insurance: Special coverage Open coverage

 Special policy is a one time policy that insures a single specific shipment. Open policy is an insurance contract to cover all its shipments as described in the policy.

1. Immediately inspect your cargo, freight, shipment, package, etc. in the event that there's physical damage, shortage or loss. 2. Any freight loss or cargo damage found at the time of delivery MUST be recorded on the delivery receipt as an exception. Be sure to keep a copy for your own cargo insurance claim file. 3. Any shipment loss or damage must be promptly reported to the closest authorized representative of the cargo insurance company so that a surveyor be dispatched. The list of representatives can be found at https://marineexpress.rlicorp.com/ 4. You MUST also immediately file a written cargo insurance claim against all other carriers that may be potentially responsible for the shipment loss or damage (e.g. Truck Railroad - Air - Ocean - Warehouse - Port). The written claim should set forth the loss or damage and demand that the carrier pay for such loss or damage.

 5.Shipping Documentation required 6. The procedures and documentation will normally be sufficient, but specific circumstances may require extra. You must always act promptly to reasonably and safely preserve and protect your shipment in order to guarantee your rights

Destination Central & South America + Mexico

General Merchandise

Household Goods Vehicles

Boats

1.30 %

2.25 %

1.60 %

1.30 %

North America + Caribbean

0.80

2.25

1.30

1.00

Asia, Australia, New Zealand + Pacific Islands

0.80

2.25

1.30

1.00

Middle East and Pakistan + India

1.15

2.50

1.30

1.30

Western & Eastern Europe

0.80

2.25

1.30

1.00

CIS countries (former USSR)

1.30

2.50

1.60

1.30

Africa

1.80

3.00

2.50

2.50

Marine Insurance- SeaworthinessPresumption of loss due to perils of the sea if it can be shown that vessel was seaworthy prior to setting out
The vessel owned by the plaintiff went down with 27 people on board. The events surrounding the sinking were unknown. The plaintiff sought a declaration that the defendant insurer was obliged to indemnify the plaintiff in respect of the loss. The vessel was insured for loss due to perils of the sea.

 If it is was known that the vessel was seaworthy when she set out and she disappeared with crew, then on the balance of probabilities she must have sunk, and on the balance of probabilities the sinking must have been due to the perils of the sea. If the vessel is not shown to be seaworthy when she left on her last voyage, the presumption does not apply since it cannot be held on the balance of probabilities that her presumed sinking was due to perils of the sea rather than to her unseaworthy condition. The plaintiff was unable to prove on a balance of probabilities that the vessel was seaworthy when she set out on her last voyage. The court dismissed the action on this point, but went on to consider the defendants other claims.

 The non-disclosure of material facts will void insurance coverage where the nondisclosure of the material fact has induced the insurer to assume the risk. In this case the vessel had taken on water and there had been substantial work done to the hull after the issuance of the safety certificate which the insured had supplied to the insurer and before the issuance of insurance. The insured had also applied to increase the passenger load form 20 to 25 and this also was not known to insurer. The court found these to be material facts which had not been disclosed to the insurer and would have voided coverage. The court also found that the insured had breached express warranties in the policy. The express warranties must be exactly complied with whether material to the risk or not. In this case the plaintiffs had not complied with the strict manning of vessel requirements

WAREHOUSE
Storage of goods Consolidation Breaking bulk Mixing or Assembly Central Warehousing Corporation (CWC)

INVENTORY
To maintain uninterrupted supply To optimize buying costs To economize production costs To take advantage of quantity discounts To cope up with seasonal fluctuations..

CASE A member's warehouse was severely damaged during a storm when strong winds blew off part of the roof and caused the remainder to collapse. Cargo stored on the members facility both inside and outside the warehouse was damaged by falling or flying debris, while some of the cargo in the warehouse also suffered extensive wet damaged from the heavy rain. Two fork-lift trucks and a racking system in the warehouse were also damaged by the collapsing roof. The member made a claim under his property cover for the repairs to his warehouse and equipment which, together with the associated clear-up costs, came to more than USD 800,000. A number of cargo-owners also submitted claims for damage to their goods, but the member, acting on the Clubs advice, rejected them all on the grounds that the damage had been caused by a storm, an excepted peril under the members trading conditions. Those claims were not pursued and eventually lapsed.