Kovaleva

Kovaleva

Lesson 2

CARGO INSURANCE PROVISIONS
1. The Insurance Company in accordance with these Rules accepts for insurance cargoes to be transported by surface, water and air transport.
2. Under insurance contract concluded in accordance with these Rules are indemnified losses and expenses due to total loss of the cargo (or part of it) and/or due to removal of damages to the cargo (or part of it) arising from fortuitous accidents and perils of the carriage as well as due to other sudden and unforeseen reasons except those specified hereunder.
3. Losses and expenses arising in consequence of the following are not to be indemnified warlike operations and their consequences, piracy, commotion and labour conflicts, acts of sabotage or terrorism; actions of governmental authorities against the insured cargo excluding measures to prevent or dimmish the risk of pollution; willful action or rude imprudence of assured or beneficiary or their representatives and infraction by them the rules of transportation and storage of cargo; effect of usual weather conditions or specific and/or natural internals of cargo;
4. The insurance contract is concluded for one cargo conveyance. Insurance Company's liability starts from the moment the cargo is taken from the place of storage including the loading in the point of departure and covers storage/reloading of cargo in the points of transshipments.

3.2. The insurance contract expires at the moment of the cargo's delivery to the point of destination (including discharging) but not more than 30 days from the start out of the insurance. Renewal over 30 days can be provided for additional payment. Under a special contract (General Policy) can be insured all or distinct kinds of cargoes which the assured receive or transmit during a certain period. The assured is obliged to inform Insurance Company in respect of each transmission of cargo falling under the General Policy even after the delivery of cargo to the point of destination in...