Cargo insurance

Cargo insurance program

Any and all transport operations related to cargo transportation are connected with possible material losses as follows: cargo damage, loss or forefault due to various circumstances.

To protect your property interest from unexpected circumstances in the process of transportation, the cargo owners may use both insurance companies’ services and own reserve funds.

However, own insurance funds formation is unreasonable in the majority of cases, first of all as it extracts funds from circulation returning higher interest, and secondly, provides the cargo owners with the possibility to efficiently cover losses only in cases, when the scope and frequency of transportations are rather high, which allows to distribute risk in time and space.

That is why, in the majority of cases, it is insurance, that is the most convenient form of provision of the uninterrupted cargo transportation process garantee.

Under this program we insure

We insure any cargo categories, excluding as follows:


• cargo transported by inpiduals on their own, without transporter or transport agreement execution;
• vehicles under own power;
• rafting;
• laundries and dry cleaners (clothing itself, lining);
• repair shops (the repaired property);
• microorganisms, bacteria, strains, viruses, genetic material and the like.

Loss occurrence

The insurance Agreement may be executed under the terms and conditions of:

1. «All risks liability», inclusively comprising:
- all or a part of the insured cargo damage and total loss of caused by any reason (excluding those specified in section Exclusions);
- general average losses, expenses, and inpayments.

2. «Limited liability». Under the Agreement, compensable damages are all or a part of the insured cargo total loss or damage caused by or for the reasons of (excluding the reasons specified in section Exclusions):

• brand or explosion;
• grounding, stranding, sinking, or tipover of a vessel, a lighter, or a barge;
• ground transportation means tipover or run off the track;
• сollision or contact of a vessel, a lighter, or a barge, or any other transport means with any external object, except water;
• discharging cargo in a port of catastrophe;
• earthquake, volcanic eruption, or stroke of lightning;
• wave-washed cargo or deck cargo jettison for the purpose of vessel salvation;
• penetration of sea, lake, or river water into the vessel, lighter, or barge, other transport means, container or stowed locations;
• total loss of a whole case in the course of discharging and loading;
• general average losses, expenses, and inpayments.

3. «Мinimum coverage». Under the Agreement, compensable damages are all or a part of the insured cargo total loss or damage caused by or for the reasons of (excluding the reasons specified in section Exclusions):

• brand or explosion;
• grounding, stranding, sinking, or tipover of a vessel, a lighter, or a barge;
• ground transportation means tipover or run off the track;
• сollision or contact of a vessel, a lighter, or a barge, or any other transport means with any external object, except water;
• discharging cargo in a port of catastrophe;
• deck cargo jettison for the purpose of vessel salvation;
• general average losses, expenses, and inpayments.

Additional risks: If necessary, the insurance coverage shall comprise:

• war and strike risks (for sea and air transportations);
• refrigerator breakage risks (for cargo requiring compliance with temperature conditions in the process of transportation);
• pilferage by the third persons by way of swindling acting under the name of the other person and (or) with the authority of forged documents in particular;
• cargo loss and damage risks in the course of loading-discharging ;
• exhibition assembly-disassembly risk and while-showing property risk;
• risks of storage at intermediate depots in the process of transportation.

Insured amount

The insured amount shall be established under the agreement between the enterprise and the insurance company in the amount not exceeding the cargo insurance (actual) value accrued proceeding from the contract value and the terms of supply taking into consideration the transportation value, custom formalities, and other expenses compulsory in relation to the insured cargo, or without considering them.

Voluntary of the Insured, the insured amount may comprise any and all expenses confirmed by documents required for the transportation performance:


• charter costs;
• customs duty;
• armed escort costs;
• required permits/сеrtificates costs and the like.

Policy price

Insurance tariffs shall be established in percentage of the insured amount depending the cargo character, transportation way and conditions, сountry of destination, selected insurance terms and conditions.

Validity term of the insurance agreement

Voluntary of the Insured, the Parties may execute General insurance agreement for the term up to 1 year.

Inception of insurance cover shall start upon cargo acceptance from the depot or other stowed location specified in the Agreement as the transportation start, and shall continue within the whole transportation term.

Insurance cover shall terminate:
- upon cargo delivery to the consignee’s depots or other depots (stowed locations), or to the point of destination specified in the Agreement;
or
- upon cargo delivery to any other depot or intermediate depot, or to the point of destination specified in the Agreement selected by the Insured for:

• storing different from the specified by usual transportation;
• the insured cargo pision into separate lots of in the place of discharge and further transportation by separate lots;

or

• after 60 days upon completion of the insured cargo discharge from the transport means in the place of discharge.

Теrritory of the insurance agreement

Insurance coverage shall be provided on the territory of all the countries of the world (excluding increased danger zones) in the course of transportation by any and all modes of transport, including pipe-line transmission insurance.

Franchise: shall be established upon consent of the Parties.