Is terrorism covered under marine open transit insurance?

Marine Open Transit Insurance Plan does not provide coverage for terrorism.

What are the insurance options provided under marine open transit insurance?

Marine open transit insurance comes in two plan options. These include: All risk cover (ITC A/ ICC A) Basic cover (ITC B/ICC B)

What does an open policy mean in marine transit insurance?

A single insurance policy covers cargo loss or damage during several transits. In simple terms, the Marine Open Declaration Policy allows you to insure all of your items in transit or shipping throughout the year under a single policy.

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Open Marine insurance

Marine insurance plays a crucial role in any type of shipping business. It protects you against financial loss of cargo, ships, or any other mode of transport used to move goods or property between their points of origin and their destination.

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What is Open Marine insurance?

Marine insurance is a contract between the insurer and the insured in accordance with Section 3 of the Marine Insurance Act of 1963. It provides coverage against loss or damage that happens to ships, terminals, cargo, and any transport by which you transport your consignment.

Benefits of Open Marine insurance

Following are the features of Marine Insurance Plan:

It provides financial security against unfortunate mishaps like theft of consignment.
It manages the risks and ensures smooth functioning of the business.
It compensates for financial loss that your business might face during transit of consignment.
It Reduces the risk of cargo theft
It Protect against the misplace of goods during transit

Frequently Asked Question

1
Is terrorism covered under marine open transit insurance?
Marine Open Transit Insurance Plan does not provide coverage for terrorism.
2
What are the insurance options provided under marine open transit insurance?
Marine open transit insurance comes in two plan options. These include:
- All risk cover (ITC A/ ICC A)
- Basic cover (ITC B/ICC B)
3
What does an open policy mean in marine transit insurance?
A single insurance policy covers cargo loss or damage during several transits. In simple terms, the Marine Open Declaration Policy allows you to insure all of your items in transit or shipping throughout the year under a single policy.