Goods in transit – Cargo insurance
insurance cover for any goods and cargo, subject to import, export or re-exports and the material interest related thereto, while being in transit, against any loss, damage and expenses incurred on occurrence of an insured event. The policy covers also risks and expenses, related to transportation of goods on the territory of the Republic of Bulgaria.
The insurance cover shall be in accordance with the operative London Institute Cargo Clauses, as follows:
- Institute Cargo Clauses (A) – 1/1/82 /Full Cover/
- Institute Cargo Clauses (В) – 1/1/82 /Limited Cover/
- Institute Cargo Clauses (C) – 1/1/82 /Minimum Cover/
- Any other operative special Cargo clauses applied on the international insurance market.
At the request of the insured Armeec Insurance JSC offers the following additional coverage:
- War risks in accordance with the Institute War Clauses (Cargo) – 1/1/82
- Strikes, Riots and Civil Commotions in accordance with the Institute Strikes Clauses (Cargo) – 1/1/82
- Breakage resulting from the nature of goods
- Deterioration of goods while in transit by refrigerator trucks
- From warehouse to warehouse
On issuing an open cover policy Armeec Insurance JSC shall provide continuous and comprehensive insurance protection either for all or for some types of cargo over a certain period of time under preliminary agreed insurance terms and conditions and applying preferential tariff rates.
The Goods in Transit – Cargo insurance shall be in force during the ordinary course of transit. Unless otherwise agreed, it shall commence at the time the goods are delivered for transportation and shall expire on their delivery to the consignee, and shall be operative during transshipment and storage.