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Marine Cargo
As a service provider, we understand the importance of providing your clients with an uninterrupted service. With Marine Cargo, you can now ensure that there are no limitations to the loss of your cargo that may put your business at risk. This policy covers the loss and damage of cargo during transportation by waterway, railway, road, as well as combined transportation.
Marine Cargo policy covers the following:
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Fire and explosion
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Vessel / Craft being stranded, grounded, sunk or capsized
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Collision or contact of vessel, craft or conveyance with any external object other than water
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Discharge of cargo at port of distress
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Earthquake, volcanic eruption or lightning
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General average sacrifice
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Jettison
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Washing overboard
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Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, lift van or place of storage
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Total loss of any package lost overboard or dropped whilst loading onto or unloading from vessel or craft
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Theft, pilferage and non-delivery, rough handling, piracy
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Contamination
Legal Shield - Marine Cargo
Benefits of Coverage
| Commercial Contract Disputes | Pursuit of defense of any disputes or legal proceedings made by or brought against you over a contract or alleged contract for the sale, purchase or hire of goods or services provided |
Terms
- This Legal Shield claim is limited to RM 25,000 per shipment/marine certificate
- For any Marine Cargo claim, a 20% co-share is to be borne by the policyholder, applicable to each and every claim
- This embedded coverage benefits are only limited to Marine Cargo policyholders
FAQ - Potential Claims Scenarios
Scenario 1
An exporter, also a business owner and a seller, had a sales contract with his foreign buyer. The exporter managed to deliver the goods in good condition as per contract. Unfortunately, the buyer failed to make payment after the delivery. The exporter then used the policy to pursue the buyer and managed to recover the outstanding debt.
Scenario 2
Scenario 3
