Cargo Insurance

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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
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Cargo Insurance

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