Hot Line Number
02223383056-8
02223386125
Contact Email
info@bgicinsure.com
bgicinsurance@gmail.com
bgicinsurance@yahoo.com
Head Office
42, Dilkusha C/A
Dhaka-1000
About Policy :
Marine Insurance is one of the oldest forms of Insurance. While goods are imported or exported, the insured is exposed to significant financial losses should the shipment be damaged or lost in transit. An organization needs to depend on an insurance company that understands the importance of swift response and efficient service in handling the claims.
Scope of Cover
BGIC’s Marine Cargo Policies cover loss of and/or damage to the insured goods carried by sea, by air and rail/road transit. Marine Cargo Insurance is divided mainly into three segments.
- Import.
- Export.
- Inland Transit.
The covers with respect to Import and Export are to be provided as per Institute Cargo Clauses A, B and C.
(a) Institute Cargo Clause “A”
It covers all risks of loss or damage to Cargo being transported by Sea or by Air with certain exclusions under the institute cargo clause “A”.(b) Institute Cargo Clause “B”
It is the intermediate level of cover which provides coverage against loss or damage to the cargo against following perils:- Fire or Explosion.
- Vessel being sunk grounded or capsizes..
- Collision of vessel or conveyance..
- Discharge of cargo at port of distress..
- Earthquake, volcanic eruption or lightning..
- General average sacrifice..
- Jettison or washing overboard.
- Damage to cargo due to entry of sea, lake or river water into vessel or craft..
- Total loss of any package lost overboard or dropped while loading to or unloading from vessel.. Under Cargo clause “B” other perils can be extended as required to the Insured by charging as additional premium..
(c) Institute Cargo Clause “C”
It is the basic level of Cover which provides coverage against loss or damage to the cargo against following perils:.- Fire or Explosion.
- Vessel being sunk grounded or capsizes..
- Collision of vessel or conveyance..
- Discharge of cargo at port of distress..
- General Average Sacrifice..
- Jettison
(a) Rail/Road Cargo Clause “A”
It covers all risks of loss or damage to cargo except exclusion as mentioned in the Rail/Road Cargo Clause “A”.(b) Rail/Road cargo Clause “B”
It covers loss or damage to the cargo against the following perils:- Fire or Explosion.
- Overturning or derailment of land conveyance.
- Collision or contact of conveyance with any external object other than water.
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