Marine Open Cover (Import & Export)
Marine Open Cover (Import & Export) is a yearly insurance arrangement that provides continuous protection for all international shipments (imports & exports) without taking separate policies for each consignment.
It is ideal for businesses involved in regular overseas trade.
Scope of cover
Modes covered
- Sea (vessel shipments)
- Air (air cargo)
- Courier / multimodal transport
Transit coverage
- Warehouse to warehouse (door-to-door)
- Port to port (if required)
Institute Cargo Clauses (ICC)
ICC (A) - all risk cover (recommended)
- Covers almost all risks except standard exclusions
- Suitable for high-value / sensitive cargo
ICC (B) - named perils (limited cover)
- Fire, explosion, vessel sinking, collision, etc.
ICC (C) – basic cover
- Very limited protection (major accidents only)
Additional covers (optional)
- War risk
- Strike, riot & civil commotion (SRCC)
- Duty insurance (for imports)
- Increased value insurance
Common exclusions
- Improper packing
- Delay or loss of market
- Wear & tear / inherent vice
- War (unless specifically covered)
- Willful misconduct