Definition of insurance
“thepractice of sharing among many persons, risks of life or property that wouldotherwise be suffered by only a few.”
Definition of marine cargoinsurance
“theinsurant enters with an insurance company and/or an underwriter into a contractof insurance in which the insurance company charges an insurance premium andthe insurance company will, according to the terms indicated in the insurancecontract, indemnify the insurant of any loss that occurs within the scope ofcoverage.”
lTwo types of risks
¡Perils of the sea
lNatural calamities
�Caused by forcemajeure events such as heavy weather, lightening, Tsunami, earthquake, volcaniceruption, thunderbolt, etc.
lUnexpected accidents/fortuitous accidents
�Caused byaccidents such as fire, explosion, vessel being stranded, grounded, sunk orcapsized, collision, missing, etc.
¡External risks/extraneous risks
lGeneral risks
�Caused bycommon factors such as theft, fresh water rain, shortage, leakage, clash andbreakage, odor, heating and sweating, hook damage, rust, breakage of packing,etc.
lSpecial risks
�Caused bymilitary factors, political factors, government regulations such as war,striking, confiscation, etc.
Types of additional coverage
General additional insurancecoverage (11 types)
TPND (Theft, Pilferage andNon-delivery)偷窃提货不着险
Fresh Water Rain Damage淡水雨淋险
Risk of Shortage短量险
Risk of Intermixture andContamination混杂沾污险
Risk of Leakage渗漏险
Risk of Clash and Breakage碰损破碎险
Risk of Odor串味险
Damage caused by Heating andSweating受热受潮险
Hook Damage勾损险
Risk of Rust生锈险
Loss for Damage Caused by Breakage of Packing包装破裂险
�
