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Marine Cargo

With the rapid development in Myanmar economy, transportation of goods between different places has increased due to the higher demand for goods. Thus, businesses are using both land and sea transport in order to deliver the goods and also facing increase pressure to minimize the loss of goods during transport. Marine cargo insurance policy insures businesses against loss of goods during transport due to unforeseen circumstances.

At AMI, we provides you with the coverage for unexpected loss of goods during transportation within the country. This policy covers loss of goods during transport due to natural disaster, accident, fire and loss of transport vehicles.

Benefits

  • Fire or explosion
  • Vessel/craft being stranded, grounded, sunk or capsized
  • Overturning or derailment of land conveyance
  • Collision or contact of vessel, craft or conveyance with external object other than water
  • Discharge of cargo at a port of distress
  • The insured can obtain compensation up to the amount of sum insured for total loss of goods during transportation

Local delivery by land

  • Fire or explosion
  • Overturning or derailment of land conveyance
  • Collision or contact of conveyance with any external object

Insured Period

  • Single voyage
    Most common type of policy and it covers from cargo when it travels from one place to another place (within one location) and for each individual voyage.

Footnotes

  • Customer is eligible to apply for sum insured amount up to 10% more than total market value of the goods
  • This policy provide coverage for Total Loss of Goods only and customer is not eligible to claim for part of Loss of Goods

Eligibility

  • Anyone can apply for this policy before transporting the goods

Premium

  • Premium Amount may vary depending on the insured valued
  • Download our proposal form here

What we don’t cover

Institute Cargo Clauses (C) 1.1.82

  • Loss, damage or expense:
    • Attributable to willful misconduct of the Assured
    • Caused by inherent vice or nature of insured items
    • Ordinary leakage, loss in weight or volume, and wear & tear of insured items
    • Arising from insolvency or financial default of the owners, managers, charterers or operators of the vessel
    • Arising from unseaworthiness of vessel or craft
    • Arising from unfitness of vessel craft, conveyance, container or lift van for safe carriage of insured items, where the Assured or their servants are privy to such unseaworthiness or unfitness when the insured items are loaded therein
    • Caused by insufficiency or unsuitability of packing or preparation of the insured items (packing shall be deemed to include stowage in a container or lift van but only when such stowage is carried out prior to attachment of this insurance by the Assured or their servants
    • Proximately caused by delay, even though the delay be caused by a risk insured against
    • Arising from the use of any weapon of war or any weapon employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter
  • The Underwriters waive:
    • Any breach of the implied warranties of seaworthiness of the ship and fitness of the ship to carry the subject matter insured to destination.
    • This does not apply to the Assured or their servants are privy to such unseaworthiness or unfitness
  • War and Strikes:
  • Normally included by way of the Institute War & Strikes Clause

Important information

This insurance is underwritten by AYA Myanmar Insurance Co., Ltd. All benefits and features mentioned here are subject to the terms and conditions of the policy. Please refer to the policy contract for the precise terms and conditions of this insurance plan. The information shown here is for reference only.

Application Process

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