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Insure shipments exported and imported. Leave no leg of the transit uninsured Cover several risks and choose from a wide variety of coverage options. Cover notes universally accepted as proof of insurance.
Cover goods traveling within India by any mode. Well defined and standardized covers leave little ambiguity. The insurance covers domestic transit including warehouse storage for limited periods
Insure your ships and boats for all risks Covers large vessels. These are complex risks where options for piracy, sea worthiness need to be carefully assessed
Cover goods in transit for a specific journey Specify start and end destination. Cover note for such journeys issued within hours. Pricing extremely cost-effective.
Marine cargo insurance covers several commercial arrangements. The most common forms of contract are FOB (Free on Board), C & F (Cost and Freight) and CIF (Cost, Insurance and Freight). If the contract type is FOB or C&F, the buyer is generally responsible for the insurance. And in the case of CIF, the seller is accountable for the insurance.
Based on how frequently you need marine insurance you can select a structure. These range from Annual Turn Over Policy (ATOP), Specific Voyage, Open Policy, and Annual Policy. The annual or sales turnover insurance is a simple way to insure your yearlong marine insurance requirements in one policy.
Marine Insurance policy covers all risks included under Institute Cargo Class (A), (B) & (C). The Institute Cargo Class (C) provides limited risk cover as opposed to Institute cargo class (A) that provides maximum risk cover. The clauses for domestic transit are different but capture a similar progression of risk cover.
Marine insurance, when structured properly, is available at competitive rates. The terms get better if you pool all your purchases with one insurer, by buying an open marine or annual turnover policy instead of specific transit insurances.
Marine transit insurances are easy to mange. Portals allow us to issue cover notes within hours. Premium is deducted from a CD balance maintained with the insurer. These cover notes are accepted by port authorities and buyers.
Marine insurance when structured properly has few restrictions and claim settlement is relatively smooth. The documentation requirements and coverages are well understood and ambiguity is minimal.
We have specialized marine underwriters and tie-ups with international experts.
We work with all insurers to get you the best options- both in terms of price and features.
Cover notes are issued within hours of request. This ensures that your goods don’t sit idle at any stage.
We manage all aspects of your claim - from survey appointment to documentation to insurer follow-up.
We will advice you on risk management best practices.
See all your contracts renewal information in one place. Place service requests on PAM.