CGIC Cargo Insurance

An insurance protection from maritime perils against damages cause to your shipments.

Cargo – refers to cargo movements involving transits by ship, watercraft or barge including the incidental transits by land.

Coverages:

1. Institute Cargo Clauses “C” (ICC “C”) - Covers loss of or damage to the insured cargo due to:
   1. Fire or Explosion
   2. Vessel or craft standard, grounded, sunk or capsized
   3. Overturning or derailment of the land conveyance
   4. Collision of craft
   5. Jettison
   Also covers expenses attributable to:
   Discharge of cargo at port of distress General Average and Salvage Charges



2. Institute Cargo Clauses “B” (ICC “B”) - Covers loss or damage due to perils listed in ICC “C” plus the following:
   1. Washing Overboard
   2. Earthquake, volcanic eruption or lightning
   3. Total loss of any package during loading or unloading


3. Institute Cargo Clauses “A” (ICC “A”) - Covers all risks of loss or damage to the cargo subject-matter insured except those explicitly excluded. Covers perils listed in ICC “B” plus the following:
   1. Theft, pilferage, non delivery
   2. Damage due to mishandling (breakage, denting, spillage, etc.)
   3. Malicious damage


4. War and Strikes - Extends the coverage of the ICC clauses to include loss or damage due to war risks or damage due to strikers and locked out workmen. This coverage is usually required for import and export shipments.

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An ISO 9001:2008 Certified Non-Life Insurance Company in the Philippines