International Cargo Transportation Insurance-Introduction【荐】.ppt

International Cargo Transportation Insurance Introduction Definition International cargo transport insurance is an indispensable adjunct of international trade. It is a contract whereby the insurer (insurance company) undertakes, on the base of a premium paid, to indemnify the insured on loss from certain risks or perils to which the cargo insured may be exposed during the course of transport from the exporting country to the importing country. * * Basic Questions 1. Who is responsible for covering cargo transportation insurance? 2. What are the possible risks, losses and expenses that may arise from the course of cargo transportation? 3. What insurance condition should be covered? 4. What are the basic requirements for an insurance claim? * * 1. Who arrange for insurance? It usually depends on the insurance clause of the contract, and the related international usual customs and practices, say Incoterms 2010. Under CIF and CIP? Under other trade terms? * * Perils and Risks Perils of Sea Extraneous Risks Natural Calamities Accidents General Special 2. Possible risks LOSSES Total Loss Partial Loss Actual Total Loss Constructive Total Loss General Average Particular Average 2. Possible Losses 2. Possible Expenses sue and labour expenses (施救费用) 被保险人及其代理人为抢救货物，防止损失继续扩大所支付的费用。由保险人支付。 salvage charge (救助费用) 第三人采取措施，获救成功，应支付给第三人的报酬、救助费用等。由保险人支付。 * * Natural Calamities Unexpected Accidents Extraneous Risks T. L. G. A P. A. T. L. P. L. General Special FPA √ √ × √ √ × × WPA √ √ √ √ × × AR √ √ √ √ √ × General Additional √ Special Additional √ Causes and consequences Insurance Condition Basic conditions 3. Insurance Coverage ⑴ Loss be covered by insurance condition； ⑵ The person who lodge a claim must be the bona fide holder of the insurance policy/certificate； ⑶ The person who lodge a claim should have insurable interest on the goods being insured when damage/loss occured. 4. Requirements for an insurance claim Fundamental Principles of Insurance