Logistic Insurance Malaysia

Malaysia Marine Cargo Insurance,
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+6011-12239838 (Whatsapp Enquiry)
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ACPG Management Sdn Bhd
www.acpgconsultant.com

Insurance Business since Year 1989
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Marine Transit Insurance, Cargo Transit Insurance and Goods In Transit Insurance

Marine Cargo Insurance

Marine Cargo Insurance refers to the insurance of goods shipped from one place to another, anywhere in the world.

Coverage is usually effected on a "per voyage" basis that is from the time the goods leave the premises of the seller until the time they finally arrive at the buyer's premises. There is no period specified in the policy.

Coverage can either be effected by the buyer or the seller depending on the contract of sales. There are different types of recognised Sale Contracts, the most common affecting Marine Insurance are:

F.O.B. (Free On Board)

It is the seller's obligation to place the goods on board vessel at his own expense and obtain the Bill of Lading. He (the Seller) is also responsible for all loss or damage until goods are on board vessel. Thereafter the goods are at buyer's risks.

C & F (Cost and Freight)

Seller provides goods with all freight and other charge paid to the port of discharge but does not include insurance charges. He (the Seller) is also responsible for the loss or damage to goods until delivery on to the carrying vessel but it is the responsibility of buyer to arrange insurance.

C.I.F. (Cost, Insurance & Freight)

The Seller undertakes to arrange and pay for all costs of delivering the goods and insurance up to final destination because the buyer has paid for these in the sale price. The insurance policy is assigned to the consignee and he can claim under the policy as though he had arranged the insurance himself.

Type of Marine Cargo Insurance Policies

1.Individual Policy

These are policies issued on each and every shipment upon request by the Assured.

2.Open Cover Policy

The Open Policy is a continuous policy that is issued on certain date and remains in force until cancelled. The policy provides automatic protection for all shipments described in the policy.

This arrangement is suitable for merchants who are engaged in regular import/export or internal trade.

Coverage in Marine Cargo Insurance

Shipment by vessel

Sending by air

Inland Transit

Sending by post or courier service

1.Shipment By Vessel

Types of coverage available are :

Institute Cargo Clauses ( C )

Institute Cargo Clauses ( B )

Institute Cargo Clauses ( A )

Institute Cargo Clauses ( C )

It covers loss of or damage to the interest insured attributable to :

fire or explosion

vessel being stranded, grounded, sunk or capsized

overturning or derailment of land conveyance

collision or contact of vessel with external object other than water discharge of cargo at a port of distress

It also covers loss or damage to interest insured caused by :

General Average Sacrifice Jettison

Note :

General Average arises where a sacrifice is incurred in connection with a venture with a view to saving or minimizing the loss as a whole. This means that some of the cargo needs to be sacrificed in order to save others. There is liability resting upon the owners of cargo to contribute towards the damages or expenses suffered by those whose cargoes are sacrificed.

Institute Cargo Clauses ( B )

In addition to coverage provided under "C" policy, it also covers loss or damage to goods insured attributable to earthquake, volcanic eruption or lightning and loss of or damage to interest insured by :

entry of sea, lake or river water into vessel

total loss of any package lost overboard or dropped whilst loading on to, or unloading from vessel

Institute Cargo Clauses ( A )

It covers all fortuitous losses of every description but excludes loss, damage or expense proximately caused by delay, inherent vice or nature of the goods.

General Exclusions for all Clauses ( A, B or C )

Willful misconduct of the Assured

Ordinary leakage, loss in weight, wear and tear

Insufficient or unsuitability of packing

Inherent vice or nature of subject-matter insured

Unseaworthiness of vessel (when the Assured is privy to it)

Delay even though caused by a risk insured against

Insolvency or financial default of carrier

Deliberate damage or destruction of the subject-matter insured

Use of nuclear weapon

War and Strikes

Terrorism

Radioactive contamination, chemical, biological, bio-chemical and electromagnetic weapons

Nuclear energy risk

Seepage and pollution

Marine Hull Insurance

Marine Hull Insurance covers loss or damage to hull and machinery. The hull is the structure of the vessel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature system such as boiler, engine, cooler and electricity generator.

Scope of Cover

Institute Time Clauses

These are the main clauses and most important in Marine Hull policies. Time Clauses covers for a specific period usually 12 months. As the nature and degree of risks which the Insurer run vary according to the kind of vessel, there exist a number of categories in the Time Clauses. They are : -

Institute Time Clauses (Hull)

Institute Time Clauses (FPA)

Institute Time Clauses (Total Loss Only)

1.Institute Time Clauses (Hull)

Provides the maximum coverage offered by hull insurance.

Perils Covered

1.Perils of the sea

2.Fire & explosion

3.Violent theft

4.Piracy

5.Breakdown of accident to nuclear installations etc.

6.Contact with aircraft

7.Earthquake, volcanic eruptions or lightning

8.Accidents in loading etc.

9.Bursting of boilers

10.Breakage of shaft

11.Latent of defect

12.Negligence of masters etc.

13.Negligence of repairers etc.

14.Negligence of charterers etc.

15.Barratry

Excluded Perils

1.Wilful misconduct of the Assured

2.Loss caused by delays

3.Wear and tear

4.Rats and/or vermin

5.Injury to machine not proximately caused by maritime peril

Paramount Exclusions in the Policy

1.War

2.Strikes

3.Malicious acts

4.Nuclear exclusion

Other Losses & Expenses Covered

1.Pollution Hazard

2.3/4th Collision Liability

3.General Average and Salvage

4.Sue and Labour

5.Constructive Total Loss

2.Institute Time Clauses (FPA)

The coverage of these clauses are similar to that of Hulls Clauses but exclude coverage on machinery damages in all respects. It is advised that all vessels which exceed 15 years of age or older, if the risk accepted, to give this coverage only. Past experience shows that older vessels suffer serious casualties due to machinery damage. If machinery damage is excluded due to limitation of this clause, there is a better chance of making hull underwriting profit.

3.Institute Time Clauses Hulls (Total Loss Only)

As the name suggested, this clause only covers in the event of it becoming a total loss by arrangement, actual, compromised or constructive total loss. The rate for this cover is low and usually this cover is only extended to old vessel (but not more than 20 years) or on accommodation only.

Institute Yacht Clauses

This clause are basically Institute Hull clauses amended for yachts and include all damages to hull, masts, spars, sails and other equipment on board the yacht but does not include damage whilst the yacht is racing.

Caution should be taken with regard to charter yachts and if the risk is accepted, the following warranty must be included into the policy conditions, namely:

'Warranted that professional skipper & crew is in attendance at all times'

Full details of the Skipper and Crew's experience must be obtained.

Institute Voyage Clauses

This insurance covers risks during a voyage from one port or place to another or a round voyage. In so far as ordinary vessels are concerned, as most of them are usually insured under a time policy, voyage insurance is effected only in such cases as delivery voyage of a new vessel to buyer from the shipyard or a voyage of a vessel to be repaired at shipyard. The period of coverage is usually less than a year and the scope of coverage is almost identical that of time policy. In which case, there are also the FPA and Total Loss cover.

Builders' Risk Insurance

This type of insurance covers whilst vessel is under construction. During that period, it is exposed to risks such as fire, tidal wave, capsize or failure in launch. It is also exposed to collision and sinking on a trial trip.

The builder's risk insurance effected by shipyards provides cover against all such risks.

The insured value is the contract price or the estimated completed value of the vessel if there is no contract price. The period of insurance should be from the time of inception of the construction to the time of delivery. Hence, the period can well exceed 12 months.

Hull War And Strike Risks Insurance

War and strike risks are usually excluded from the cover of ordinary marine insurance policies in any market throughout the world.

This insurance covers exclusions under Article 11 of the Institute Time Clauses. It can only be effected on vessels which are insured against ordinary marine risks. The rate of premium fluctuates frequently reflecting the climate of world politics at the time of inception of the risk.

Terrorism Insurance

Terrorism cover is an excluded risk worldwide. There will be no consideration for acceptance if this coverage is required.

Loss of Time Insurance

This insurance indemnifies a ship owner for loss of anticipated profits or operating costs where the insured vessel is forced to be out of commission in consequence of damage caused by maritime accident. The period of insurance is one year and the insurable value is calculated based on the following: -

estimated operating costs

estimated chartering to be earned

estimated gross income of freight

The loss of time is covered on the basis of the number of days required for the completion of the repairs, counting from the day following the day of the accident. The Insurer's liability per any one accident is limited to certain number of days up to 180 days throughout the year.

Malaysia Marine Cargo Insurance Expert

Your Experience Risk Management and Insurance Solution Service Provider Agency

ACPG Management Sdn Bhd

Head Office

158-3-7, Blok 158, Kompleks Maluri,

Jalan Jejaka, Taman Maluri, Cheras,

55100 Kuala Lumpur, Malaysia.

http://www.acpgconsultant.com

+603-92863323

制造业保险和仓库业保险
通过ACPG咨询Whatsap + 6011-12239838
ACPG Whatsapp团队
http://wasap.my/+601112239838/制造业保险和仓库业保险

制造业保险
在提供有助于控制成本并降低持续风险的服务的同时确保您的需求

制造业是最多样化的行业之一，无数产品需要不同的生产方法，销往不同的市场，并面临着不同的创新和经济绩效机会。

从生产线到出口市场，他们面临的风险几乎一样广泛，迫使制造商必须更加努力，更加明智地保持竞争力。

ACPG的主要普通保险代理公司在马来西亚市场为制造业提供最广泛的保险保单，并以我们丰富经验的保险代理知识和专业知识为后盾，使马来西亚企业充满信心在国内和国际上扩展和发展。

工商业保险
该产品涵盖意外财产损失，破坏或财产损失，但原因不排除，以及由于中断或干扰而导致的后续收入损失。

延长保修保险
我们的服务合同报销计划允许您将自购买之日起，对具有类似制造商的结构，家具，机械或电气故障保护的电器，移动设备和家具的制造商的保修期限延长至最长五年。

贸易信贷保险
贸易信用保险保护开放帐户的销售（出口和国内）免于因客户的法律无力偿债或长期拖欠而产生的未付款。除了保护被保险人的主要现金来源和应收账款外，我们的承保范围还可以使被保险人扩大新市场的销售并提供更具竞争力的销售条件。

产品责任保险
制造商可能会对由于有缺陷的产品造成的人身伤害或他人财产损失负责。

海运货物保险
全面涵盖海上，空中（包括快递）和陆路从A点到B点的货物丢失或损坏的风险。

外劳保险计划
外籍劳工保险计划的设计理念是，您的员工就是您的资产，并且照顾好您的外籍劳工将确保您的业务运作顺利并取得成功。

团体人身事故保险
如果因突然的意外事故导致人员伤亡，本保险产品将提供赔偿。覆盖范围为24/7。该产品是根据您的需要特别定制的，如果包括所有员工在内，则可以由公司购买以覆盖其员工。

团体医疗保险
随着医疗费用的上涨，您需要一个具有成本效益的医疗计划，以确保您最宝贵的资产和员工得到保护。

商务旅行保险
在当今的全球环境中，很高兴得知您的员工可以使用我们全面的团体旅行保险安心旅行。无论您的员工的出行方式如何，我们都有计划提供范围广泛的覆盖范围以提供差旅保护。

管理责任保险
为您的董事和管理人员提供最具创新性和最广泛的保险。

商业犯罪保险
防止欺诈，欺诈，第三方计算机和资金转移欺诈。

环境损害赔偿责任保险
环境保险为客户提供了所需的广泛保险，以充分保护其业务免受不断变化的环境影响。

公众责任保险
公共责任向被保险人提供在特定营业地点或从特定营业地点进行的与被保险人业务有关的法律责任以及其代表和雇员的法律责任。

工人赔偿与雇主责任保险
雇主在法律上有责任向其工人及其家属提供赔偿，以补偿因工作期间或在工作过程中造成的人身伤害/死亡。这涵盖了雇主的此类责任。

综合一般责任保险
企业有责任照顾其客户以及广大公众。因公司活动引起的事故或伤害而导致的法律辩护和赔偿费用可能会下降。

ACPG主要普通保险代理公司提供的一般责任险可确保受害方获得公平的赔偿，而不会给您的业务带来风险。

石油和天然气服务承包商保险
东盟地区的油气服务承包商（OSCAR）符合一般油气承包商的保险合同要求。它为工人的赔偿和雇主责任以及在陆上和/或近海工作的石油和天然气承包商的一般责任提供了全面的保障。

马来西亚保险公司代理
ACPG Management Sdn Bhd（自1989年以来的保险业务）
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumpur, Malaysia.
http://www.acpgconsultant.com
+603-92863323, +6011-12239838, +6012-6489838

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