Marine Cargo Insurance
 

As a manufacturer, wholesaler, retailer, logistics or contractor, you understand very well the exposures of your on-the-way materials, products or goods. To provide best protection for you against such potential losses which may occur during the transit, we offer you a wide range of covers.

You can opt to be insured against major perils only as per the Institute Cargo Clauses "C", wider coverage of popular perils as per Institute Cargo Clauses "B" or the most comprehensive "All Risks" cover as per the Institute Cargo Clauses "A" to suit your requirements.


 

BETTER PROTECTION:
Besides the coverage of ICC (A), (B), (C) 1.1.82 as per listed in the table below, we also provides below coverage and services at your option.

Extended coverage for goods in storage
Extended coverage during loading and unloading

BETTER MATCH FOR YOUR DEMAND:
From our hundreds of years of experience, we understand each clients may have various requirements for your insurance needs. we have some below tailor service to meet some typical requirements of yours.

Stock Throughput policy: Insurance for stock and transit exposures from raw material to final product within one single policy to ensure seamless coverage on a worldwide basis eleminating gaps in cover and simplifying administration
Designated worldwide master policy for Multinational transport cargo
Insurance policy for cargo can be arranged by forwarders/logistics on behalf of cargo owner as interest party.

MAIN COVERAGE

Loss caused by or resulting from one of the following perils ICC (C) ICC(B) ICC(A)
Stranding/Grounding o o o
Sunk or capsized / over-turning, derailment of land conveyance (for inland transit) o o o
Fire and Explosion o o o
Collision o o o
Discharge of Cargo at a port of distress o o o
Collision o o o
General Average o o o
Jettison o o o
Washing overboard x o o
Entry of sea lake or river water into vessel, craft, hold conveyance x x o
Theft, Pilferage and non-delivery (TPND) x x o
Rain & Fresh water (RFWD) x x o
Improper Stowage/rough handling cargo by the carrier x x o
Leakage, shortage, breakage x x o
Hook damage, Mud, Grease, bending x x o
Sweating & Heating, contamination x x o
Note:
o-covered
x-not covered

MAIN EXCLUSIONS

  • Loss damage or expense attributable to wilful misconduct of the Assured
  • Ordinary leakage, loss in weight or volume, ordinary wears and tears of the subject-matter insured
  • Insufficiency or unsuitability of packing or preparation of the subject-matter insured
  • Loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission
  • Damage or expense arising from unseaworthiness of vessel or craft
  • War civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power.
  • Strikers, lock-out workmen, or persons taking part in labour disturbances, riots or civil commotions.
Note: This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy

ADDITIONAL COVER
   All of our marine cargo policies shall cover below risks

  • War as provided in the Institute War Clauses (Cargo)
  • Strikes as provided in the Institute Strike Clauses (Cargo)
   Strikes as provided in the Institute Strike Clauses (Cargo)

VALUATION BASIS AND INSURABLE INTEREST
Valuation Basis

  • Marine Cargo Insurance policy is made a "Valued Policy" in which the Sum Insured is agreed between the Insured and the Insurer.
  • The Sum Insured could be full value of the Invoice or CIF Value.
Insurable Interest    As the cargo owner, you certainly have insurable interest in your cargo itself. However, the distinguished of the marine cargo insurance is that you may choose to insure 100% or 110% of value of your cargo to cover other insurable interest of yours as following examples:
  1. Anticipated profit: If a cargo arrives safely at its destination, the consignee may naturally gain profit by selling it. This anticipated profit is insurable, and is normally added to the insured amount of cargo itself by fixing it at 10% higher than the CIF value thereof; or
  2. Increased value: If the market price of cargo increases considerably during the voyage and the cargo is lost or arrives at the destination in a damaged condition, the consignee may suffer a loss of the increased value of the cargo. In order to protect him against such a loss, the increased value can be insured. This increased value is normally 10% as per international practice.

AVAILABILITY and EXPERTY OF CLAIM SERVICE WORLDWIDE
With BAOVIET TOKIO MARINE, you and your clients can enjoy claim services at ease from a broad network of as many as 250 Claim Settling Agents of Tokio Marine group throughout the world. This is one of the largest network among those of non-life insurance companies in the world.
With more than a hundred years being in the marine insurance business, these claim agents are well trained and professional in providing the claimants prompt and fair services in their claim settling operation, which, we believe, will meet the claimants' satisfaction.
Wherever you are, we will bring best service possible to you and your clients.

CLAIM SETTLEMENT AGENTS

NORTH AMERICA
TM Claim Service, Inc Tokio Marine & Nichido Fire Insurance Co., Ltd (Ref Office)
230 Park Avenue, New York, New York 10169
Tel: +1 212-297-6700
Fax: +1 212-297-6968
800 E. Colorado Boulevard, Pasadena, California 91101
Tel : +1 626-568-7600
Fax : +1 626-796-7766
EUROPE AND MIDDLE EAST
Burmester, Duncker & Joly (Affiliated Agency) Tokio Marine Global Ltd.
c/o Burmester, Duncker & Joly, Trostbrücke 1, D-20457 Hamburg, Germany
Tel : +49 40-376030
Fax : +49 40-37603-144
2 Minster Court London EC3R 7BB
Tel : +44 20-7397-4000
Fax : +44 20-7397-4040

Nile General Takaful Company Tokio Marine Middle East Limited
6, Ibn Arhab Street, Flat 14, Al Giza, Egypt
Tel : +20 (0)2-3573-5510
Fax : +20 (0)2-3573-5511
Office 6, Level 1, Building GV5, The Gate Village, Dubai International Financial Center, Dubai
Tel : +971 4-4255678
Fax : +971 4-4255600
ASIA & PACIFIC
TM Claims Service Asia Pte. Ltd. Baoviet Tokio Marine Insurance
6 Shenton Way #23-08, DBS Building, Tower Two, Singapore 068809
Tel : +65 6372-2976/7/8/9
Fax : +65 6227-3897
6th Floor, Sun Red River 23 Phan Chu Trinh Street, Hoan Kiem District, Hanoi
Tel : +84 4-39330704
Fax : +84 4-39330706

For full list of claim agents, please click here

Now it is time to send us your proposal form. If you still have a few questions, please see the claim guidelines, how to obtain your insurance policy or contact us.

Contact us for any queries you may have
Proposal Form
Claim Form

 

Head Office
Room 601, 6th Floor, Sun Red River Building, 23 Phan Chu Trinh, Hoan Kiem Dist.,
Hanoi, Vietnam
Tel: (84.24) 3933 0704   Fax: (84.24) 3933 0706



Branch Office
Room 3, 19th Floor, Green Power Building, 35 Ton Duc Thang, District 1,
Ho Chi Minh City, Vietnam
Tel: (84.28) 3822 1340   Fax: (84.28) 3822 1338



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