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Ocean marine cargo clause
This insurance is classified into the following three Conditions-Free From Particular Average(F.P.A.), With Average(W.A.) and All Risks. Where the goods insured hereunder sustain loss or damage, the insurer shall undertake to indemnify therefor according to the Insured Condition specified in the Policy and the Provisions of these clauses:
1.Free From Particutar Average (F.P.A.)
This insurance covers:
A.Total or Constructive Total Loss of the whole consignment hereby insured caused in the coursse of transit by natural calamities haevy weather, lightning, tsunami, earthquake shall abandon to the insurer the damaged goods and all his rights and title pertaining thereto. The goods on each lighter to or from the seagoing vessel shall be deemed a separate risk.
“Constructive Total Loss” refers to the loss where an actual total loss appears to be unavoidable or the cost to be incurred in recovering or reconditioning the goods together with the forwarding cost to the destination named in the Policy would exceed their value on arrival.
B.Total or Partial Loss caused by accidents the carrying conveyance being grounded, standed, sunk or in collision with floating ice or other objects as fire or explosion.
C.Partial loss of the insured goods attributable to heavy weather, lightning and/or tsunami, where the converyance has been grounded, stranded, sunk or bunt, irrespective of whether the event or events took place before or after such accidents.
D.Partial or total loss consequent on falling of entire package or packages into sea during loading, transhipment or discharge.
E.Reasonable cost incurred by the insured in salvaging the goods of averting or minimizing a loss recoverable under the Policy, provided that such cost shall not exceed the sum insured of the consignment so saved.
F.Losses attributable to discharge of the insured goods at a port of distress following a sea peril as well as special charges arising from loading, warehousing and forwarding of the goods at an intermediate port of call or refuge.
G.Sacrifice in and Contribution to General Average and Salvage Charges.
H.Such proportion of losses sustained by the shipowners as is to be reimbursed by the Cargo Owner under the Contract of Affreightment “Both to Blame Collision” clause.
2.With Average (W.A.)
Aside from the risks covered under F.P.A. Condition as above, this insurance also covers partial losses of the insured goods caused by heavy weather, lightning, tsunami, earthquake and/or flood.
3.All Risks
Aside from the risks covered under the F.P.A. and W.A. Conditions as above, this insurance also covers all risks of loss of or damage to the insured goods whether partial or toal, arising from external causes in the course of transit.
In general, All Risk is most customer’s choice. The formula for calculating charge is : Value of goods X 1.1 X Premium rate
 

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