Cargo Insurance

2. The Logistic chain and responsibilitiesLoading cargo into container (FCL) / truck (LCL)‣ Responsible :• The SELLER –Truck driver – loading company –FORWARDER‣ For :• All damage / loss to the cargo if loss is due to their fault up to alimited amount‣ Insurance involved :• Cargo insurance with loading unloading clause attached• Forwarder liability2. The Logistic chain and responsibilitiesTransportation by truck‣ Responsible :• Truck driver / FORWARDER‣ For :• All damage / loss to the cargo if loss is attributed by their fault upto a limited amount‣ Insurance involved :• Cargo insurance• Forwarder liability• Compulsory liability insurance of the driver

2. The Logistic chain and responsibilitiesUnloading cargo / container to CY‣ Responsible :• Cargo Forwarding Station –port authority – contractor at port –forwarder – shipping line‣ For :• All damage / loss to the cargo if loss is attributed by their fault upto a limited amount‣ Insurance involved :• Cargo insurance• Forwarder liability• Port authority liability2. The Logistic chain and responsibilitiesCFS / CY / TERMINAL AT PORT / AIRPORT‣ Responsible :• CFS / CY / TERMINAL OPERATOR / KEEPER / FORWARDER‣ For :• All damage / loss to the cargo if loss is attributed by their fault upto a limited of amount‣ Insurance involved :• Cargo insurance• Forwarder liability• Port authority liability• Stevedore liability

3. Loss notification procedure‣ Contact immediately the insurerIn case ofapparent lossor damage‣ Before taking delivery, get the deliveryreceipt mentioning damaged parcels‣ Request survey from named surveyor onfront of the Certificate of Insurance‣ Within 24 hours from time of deliverygive notice in writing to the Carriers orBailors3. Loss notification procedureIn case ofdamagediscoveredafter the timeof delivery‣ Contact immediately the insurer‣ Cease unpacking immediately andrequest survey‣ Give notice in writing to the Carriers orBailors within 3 days of delivery

3. Loss notification procedureIN ALL CASESthe Carriers, Bailors and / or other liable ThirdParty should be requested by fax, e‐mailor recommended letter to attend the survey4. Claims and required documents1. Original Insurance Certificate, Original Billof Lading or other Contract of Carriage2. Original or copy of commercial invoices ofthe goods and Packing ListIN ALL CASES3. Claim form with loss statement4. Delivery receipt (from carrier, wharf,Docket), clauses to show loss / damageupon arrival, Weight notes5. Correspondence exchanged with theCarriers and other Parties regarding theirliability for the loss or damage

4. Claims and required documentsTotal loss‣ Total loss : total loss of shipment following total loss of vessel,vessel sank, missing…Required documents :‣ All Original Bills of Lading‣ Letter from the shipping company advising the consignee of theloss of the ship‣ Extract for the ships manifest showing that the goods were dulyloaded4. Claims and required documentsGeneral average‣ General average : a sacrifice of goods / or part of vessel or anexpenditure decided by the master for common safety of themaritime ventureRequired documents :‣ A copy of the C.I.F. invoice, if not already provided with theG.A. guarantee‣ Copy of claim documents relating to any damage to cargo‣ Subrogation receipt

5. Indemnity principle‣ Cause of loss : The risk must be covered in the policy‣ Time of loss : the loss must have occurred at a time covered inthe policy‣ Place of loss : the loss must have occurred at a place belong tothe voyage insured‣ All warranties must have been complied with‣ The premium must be paid‣ The insured must have had an insurance interest in the goodsat the time of loss6. Delay on Start‐Up (DSU)For Project Cargo :‣ Essential insurance for all important project during construction‣ Alternative to Cargo Insurance that does not cover any kind of delay‣ Limited to project under construction and no other activities‣ Covers the loss of profit due to delay in delivery affecting completion

6. Delay on Start‐Up (DSU)Delay has to be related to :‣ A risk insured by the ICC‣ Mechanical breakdown of or damage to the hull and machinery‣ Any mechanical break down of or damage to any other conveyance‣ Any risk covered under an aircraft policyIs excluded :‣ Any delay due to or resulting of public authority restriction‣ Fines or damages for breach of contract‣ Nuclear reaction, radiation or radioactive contamination‣ Loss of or damage to the propertyThank youRaphaelCAZALBOU