When insuring the cargo, the cargo owner receives guarantees of indemnification, the amount of which is much wider than the guarantees provided by the carrier and the policy of his liability.
The Carrier may also act as the Insured (and insure the goods at the expense and for the benefit of the cargo owner).
Cargo insurance rules of PJSC "European Insurance Alliance" are developed on the basis of clauses "A", "B" and "C" of the Institute cargo clauses (ICC). Insurance is usually carried out on terms of liability for:
• “All risks” (CARGO A);
• “Risks of a partial accident” (CARGO B);
• “No liability for damage, expert in the event of an accident” (CARGO C).
The insurance rate is 0.1 - 1.5% of the sum insured. The calculation of the tariff is carried out in each case on the basis of the data provided in the application.
It is also possible to insure nominal risks, namely - damage, destruction or loss of cargo due to the following events:
• natural disasters (lightning, storm, earthquake, whirlwind, tsunami, volcanic eruption, groundwater release, floods, strong winds, landslides);
• fire or explosion on a vehicle (in the cargo compartment);
• accident of a vehicle transporting cargo (collision of a vehicle with another vehicle, with a moving or stationary object, overturning of a vehicle, traffic accident, crash of an aircraft);
• action of water (as a result of taking measures to rescue cargo or extinguish a fire);
• illegal actions of third parties in relation to the cargo and / or vehicle transporting the cargo.