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वाणिज्यिक बीमा

समुद्री दुर्घटना बीमा

MarineInsurance

मुख्य विशेषताएं

Safeguard your assets during transit with tailored protection

Coverage Highlights

Protect goods in transit from loss or damage
  • कम्प्रीहेंसिव कवरेज

This insurance encompasses a wide range of risks including accidents, natural disasters, and other perils associated with maritime & transit activities

  • फाइनेंशियल सुरक्षा

Marine insurance ensures that the financial interests of the ship owners, cargo owners, and other stakeholders are protected, providing peace of mind during transport operations

  • Wide Range of Options

Multiple policy options to choose from as per your unique business needs such as Specific Policies, Open Policies or Sales Turnover Policy

Types of Marine Cargo Insurance Policies

Choose the policy best suited for your unique requirements
  • Marine Specific Transit Policy

A marine specific policy provides coverage for a single, specified shipment

  • Marine Open Cover

A marine open policy provides continuous coverage for all shipments made during the policy period without needing individual declarations

  • Marine Sales Turnover Policy

A marine sales turnover policy provides seamless coverage for all transits required to achieve sales, based on the company's annual sales turnover

Feature of Marine Insurance Policies

Salient features offered under a marine insurance policy
  • Agreed Value Policy

It is an indemnity policy, the sum insured can include not only the value of the cargo but also, freight, duties, insurance premiums, loading and unloading costs, various taxes, profit margins, etc.

  • Assignment

It means the transfer of all rights and benefits under the policy to a third party, who is not named in the marine policy as an insured. The marine policy is freely assignable unless it contains terms expressly prohibiting assignment. It can be assigned either before or after loss

  • Insurable Interest

Insurable interest is to be proved at the time of loss only. This is due to the underlying contract being a sale-purchase contract- meaning that the title/ownership of the subject matter insured shifts from seller to buyer in the middle of the transit

  • International in Nature

The marine clauses and forms used are the same across the globe

Marine insurance offers protection to goods, vessels, and other assets against risks encountered during transit, including damage or loss due to accidents, weather conditions, or piracy. It ensures financial coverage for both cargo and ship owners, providing peace of mind when transporting goods internationally or domestically.

मरीन इंश्योरेंस क्या है?  

Marine insurance is a policy that protects businesses, cargo owners, and ship owners from financial loss due to damage or loss of goods in transit. It covers risks like accidents, theft, and natural disasters. Marine insurance applies to both inland and ocean shipments, ensuring the safe transit of goods and providing valuable financial protection against unforeseen events during transportation. This type of insurance helps mitigate risks and ensures the continuity of trade and business operations, offering peace of mind for those involved in shipping goods.

मरीन इंश्योरेंस कैसे काम करता है?  

Marine insurance is a contract between the insured and the insurer, where the insured party pays a premium in exchange for protection against potential financial loss during the transit of goods. It covers various risks, including theft, weather-related damages, and accidents that may occur during transportation.

For inland transit, coverage typically includes risks associated with truck or train transport, while for maritime transport, policies protect against risks during ocean or sea travel. To ensure the correct coverage, the insured must declare cargo details, including type, value, and route. In the event of damage or loss, the claimant must provide proof, and compensation is offered according to the policy terms. Policies like inland marine coverage safeguard businesses by protecting their valuable goods during transit, reducing the financial burden caused by unforeseen incidents.

Marine insurance plays a crucial role in mitigating risks in the shipping and transport industry, offering financial security and peace of mind for businesses and individuals involved in moving goods over long distances. Whether by land or sea, this insurance ensures that losses are minimized, helping businesses recover quickly from disruptions.

मरीन इंश्योरेंस महत्त्वपूर्ण क्यों है?  

Marine insurance provides essential financial protection to businesses, cargo owners, and ship owners against the risks associated with transporting goods. It helps mitigate the potential losses that may arise due to accidents, theft, or natural disasters during transit. By offering coverage for both inland and maritime shipments, marine insurance ensures that goods are protected regardless of the mode of transport. Below are the key benefits of marine insurance:

Protection Against Financial Loss: Covers losses caused by accidents, theft, and natural disasters during transit.

Safe Transit: Provides coverage for both inland and maritime shipments, ensuring goods are protected no matter the mode of transport.

Risk Management: Helps businesses manage the risks of transporting high-value goods over long distances.

Peace of Mind: With insurance, cargo owners and transporters can focus on business operations without worrying about the safety of their goods.

Legal Compliance: Often a requirement for international trade, protecting goods during transit ensures compliance with import/export regulations.

समुद्री दुर्घटना बीमा

COMPREHENSIVE COVERAGE FOR YOU

BestSeller

Marine Specific Transit Policy

  • Single shipment cover
  • Tailored policy for declared cargo
  • Useful for infrequent shipments
अधिक जानें

BestSeller

Marine Open Policy

  • All shipments over policy period
  • Continuous coverage, no declaration
  • Ideal for regular shipments
अधिक जानें

BestSeller

Marine Sales Turnover Policy

  • Seamless coverage for all shipments
  • Covers all transits
  • Ideal for growing businesses' needs
अधिक जानें

Features of Marine Cargo Insurance Policy  

Comprehensive Coverage: Covers a wide range of risks such as theft, damage, accidents, and natural disasters.

Agreed Value Policy: The sum insured can include not just the cargo value, but also taxes, profit margins, and other associated costs.

Global Protection: Marine insurance policies are internationally recognized, ensuring protection for shipments globally.

Inland Marine Insurance: In addition to covering oceanic voyages, inland marine policies protect goods during land transport.

Assignment Option: Marine policies can be assigned to third parties, ensuring flexibility in case of asset transfer.

Loss Mitigation: Covers both total and partial losses, reducing the financial impact on businesses.

Who Needs Marine Insurance?  

Cargo Owners: Those who own goods being transported across borders need to protect their investments during transit.

Ship Owners: To safeguard their vessels and related liabilities from risks during travel.

Freight Forwarders: Businesses involved in logistics and transportation need coverage for goods handled during shipment.

Exporters/Importers: Businesses dealing with international trade require insurance to cover risks associated with transnational shipping.

Online Sellers/Manufacturers: E-commerce companies or manufacturers shipping goods globally need protection for both inventory and assets.

Why Should You Buy Marine Insurance?  

Risk Mitigation: Protects your business from financial losses due to accidents, theft, or other transit-related risks.

Smooth Operations: Ensures uninterrupted shipping and trade activities by mitigating potential financial losses.

Comprehensive Coverage: Provides both inland and maritime coverage for a wide range of perils during transport.

Legal Requirement: Often necessary for international shipping to meet trade regulations and customs requirements.

Protection for High-Value Goods: Secures expensive or sensitive goods against unpredictable risks during transit.

Eligibility Criteria of Marine Insurance 

Type of Cargo: Eligibility depends on the type of cargo being shipped (e.g., perishable goods, hazardous materials, etc.).

Mode of Transport: The type of transit (e.g., ocean freight, inland transit insurance) can impact eligibility and coverage options.

Insurable Interest: The insured must prove a legitimate financial interest in the cargo, as required under the policy.

Destination and Route: Policies are designed according to the destination, route, and potential risks involved during transit.

Valuation of Goods: The declared value of the goods will influence eligibility, ensuring coverage reflects the actual value of goods.

Inclusions Under Marine Insurance 

Let us now understand what remains covered in case of loss/damage to the insured reasonably attributable to:

● Fire, explosion

● Vessel or craft being stranded, grounded, sunk, or capsized

● Overturning or derailment of land conveyances

● Collision or contact of vessel craft or conveyance with any external object other than water

● Discharge of cargo at a port of distress

● General average sacrifice

ध्यान दें: This is not an exhaustive list. For complete information, please refer to the policy wordings carefully.

Exclusions Under Marine Insurance 

Here’s a quick rundown of what remains uncovered in marine insurance:

● Loss, damage or expenses attributable to willful misconduct of the assured

● Ordinary or inevitable losses

● Loss, damage or expense caused by inherent vice or nature of the subject matter insured

● Loss/damage due to insufficient, unsuitable or defective packing (including stowage)

● Loss/damage or expenses proximately caused by delay even if the delay is caused by a peril insured against

● Loss damage or expenses arising from insolvency .

● Loss damage due to un seaworthiness of the vessel or craft, container, lift van employed for carrying the insured matter.

● Wars, strikes and civil commotions unless covered under separate endorsements.

ध्यान दें: This is not an exhaustive list. For complete information, please refer to the policy wordings carefully.

Why Should You Buy Marine Insurance from Bajaj Allianz?  

Bajaj Allianz General Insurance Company offers comprehensive Marine Insurance solutions designed to meet the needs of cargo owners, ship operators, and transporters. With tailored options, such as inland marine insurance and marine cargo insurance coverage, the policy ensures businesses can safeguard goods during transit, whether by sea or land.
The company provides flexible policies like inland transit insurance and marine open policies, allowing continuous coverage for all shipments within a policy period. With a strong customer support team, fast claims process, and expert guidance, Bajaj Allianz General Insurance Company helps businesses stay protected, reducing the financial risks of transport operations and ensuring smooth, secure transit.

Benefits you get with Bajaj Allianz Marine Cargo Insurance  

Comprehensive Risk Coverage: Protection against multiple risks like theft, damage, and natural disasters.

Global Coverage: Safeguard your goods in transit globally, with consistent international coverage.

Fast and Efficient Claims: Bajaj Allianz offers a streamlined claims process, ensuring a quick and easy settlement.

Tailored Plans: Choose from different policies such as inland marine policy or sales turnover policy based on your business needs.

Expert Guidance: Receive advice from experts to help you select the right coverage for your goods and transit type.

Type of Plans Under Marine Insurance Policy  

प्लान का नाम

कवरेज

Marine Specific Transit Policy

Single shipment, covering goods from origin to destination.

Marine Open Cover

Continuous coverage for all shipments within the policy period.

Marine Sales Turnover Policy

Covers shipments required to meet sales targets, based on annual sales.

Inland Marine Insurance

Covers goods during transport via land (truck/train) within India.

Types of Coverage Under Marine Insurance  

कवरेज का प्रकार

विवरण

All Risk Coverage

Covers loss or damage from all risks except those specifically excluded.

Named Perils Coverage

Covers loss or damage caused by specific risks such as fire, theft, etc.

Inland Marine Coverage

Specifically covers goods in transit within the country (by truck or train).

Seaworthiness Coverage

Ensures the ship or vessel is fit for transporting goods across seas.

Marine Insurance Act, 1963  

The Marine Insurance Act, 1963, governs marine insurance contracts in India. It defines the terms of coverage, rights of the insured, and the responsibilities of insurers. The act establishes the conditions under which claims can be made and provides guidelines for resolving disputes between insurers and policyholders. It ensures that the insured receives fair compensation for losses incurred during transit, as long as the conditions of the policy are met.

What Does the Institute Cargo Clauses (ICC) Cover?  

Institute Cargo Clauses A: Covers all risks, excluding those specifically excluded in the policy.

Institute Cargo Clauses B: Covers specific named risks, such as fire, explosion, and sinking.

Institute Cargo Clauses C: Covers a limited set of perils like fire, collision, and theft, and is usually less expensive.

Add-ons: Includes provisions for additional coverage such as theft by non-delivery, riots, or war-related damage.

Finding the Best Marine Insurance Policy Online  

Compare Quotes: Use online tools to compare quotes and select the best coverage for your needs.

Understand Coverage Options: Ensure you understand what each policy covers, from inland marine coverage to marine cargo insurance.

Consult Experts: Reach out to insurance advisors for expert guidance on the right policy for your shipments.

Check Reviews: Look for reviews and feedback from other customers to assess the reliability of the insurer.

Choose Flexible Policies: Opt for policies with customization options that can grow with your business needs.

How is the Premium Calculated for Marine Cargo Insurance?  

Value of Goods: The declared value of the goods being transported impacts the premium calculation.

Risk Factors: The type of goods, transport mode, and route influence risk assessments and premiums.

Transit Duration: The longer the journey, the higher the premium.

Add-on Coverage: Additional coverage like inland transit insurance or marine open policies increases the premium.

Claims History: Businesses with frequent claims may face higher premiums.

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चरण-दर-चरण गाइड

To help you navigate your insurance journey

कैसे खरीदें

  • 0

    Visit the Bajaj Allianz General Insurance website

  • 1

    Fill in the lead generation form with accurate details

  • 2

    Get quote, make payment and receive the policy documents

रिन्यू कैसे करें

  • 0

    Contact the Policy Issuing Office

  • 1

    Review expiring policy and share necessary details

  • 2

    Receive renewal quote

  • 3

    Make renewal payment

  • 4

    Receive the renewed policy documents via email

क्लेम कैसे करें

  • 0

    Contact us through our customer service touchpoints

  • 1

    Submit the claim form along with the necessary documents

  • 2

    Provide details of the incident and any supporting evidence

  • 3

    Cooperate with the claims investigation process

  • 4

    Receive the claim settlement as per the policy terms

अधिक जानें

  • 0

    For any further queries, please reach out to us

  • 1

    Toll Free : For Sales :1800-209-0144

  • 2

    Email ID: bagichelp@bajajallianz.co.in

Claim Process for Marine Insurance Policy  

Notify the Insurer: Report the incident promptly to Bajaj Allianz via their helpline or online portal.

Submit Documents: Provide necessary documents like shipment details, invoices, and proof of loss.

Inspection: An adjuster may be sent to inspect the damage or loss.

Claim Approval: The insurer processes the claim and issues compensation as per the policy terms.

Documents Required to Raise Claim Under Marine Insurance  

Bill of Lading: Proof of shipment and delivery.

Invoice: The commercial invoice indicating the value of the goods.

Insurance Certificate: The marine insurance policy document.

Surveyor's Report: If required, a report detailing the extent of damage or loss.

Proof of Loss: Photographs or documents proving the loss or damage to goods.

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Claim Motor On The Spot

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हमारे ग्राहक क्या कहते हैं

Hassle-Free Marine Insurance Purchase

Getting my Marine Transit Insurance from Bajaj Allianz was a smooth experience. The online process was straightforward, and I received my policy instantly without any complications.

alt

Vikram Mehta

महाराष्ट्र

4.8

25th Feb 2025

Fast & Efficient Claim Settlement

When my shipment was damaged during transit, Bajaj Allianz processed my claim quickly. The support team was professional and guided me throughout, making the process stress-free. Excellent service!

alt

Ravi Sharma

गुजरात

4.9

18th Jan 2025

Comprehensive Coverage for My Business

Bajaj Allianz Marine Insurance provides extensive coverage against various transit risks. I feel secure knowing my goods are protected, whether transported by road, air, or sea. Excellent policy!

alt

Priya Nair

केरल

4.7

5th Jan 2025

Reliable Customer Support

I had queries about my Marine Insurance policy, and the Bajaj Allianz support team was extremely helpful. They clarified all the details and provided step-by-step assistance with my claim.

alt

Amit Verma

राजस्थान

4.9

28th Dec 2024

Affordable & Customisable Plans

Bajaj Allianz offers the best Marine Insurance at competitive rates. Their flexible coverage options allowed me to customise my policy as per my business needs. Great value for money!

alt

Neha Singh

कर्नाटक

5.0

12th Dec 2025

Transparent and Detailed Policy Documentation

The policy documentation was clear and concise, providing a detailed breakdown of coverage and exclusions. This transparency gave us confidence in our insurance coverage.

alt

Suresh Gupta

अहमदाबाद

4.7

15th Oct 2023

Competitive Rates for Extensive Coverage

We compared rates from several insurance providers, and this company offered the most competitive premiums for the level of coverage we required. We are satisfied with the value we receive.

alt

Kavita Desai

सूरत

4.8

28th Sep 2023

सामान्य प्रश्न

1. What is the difference between inland marine insurance and ocean marine insurance?

Inland marine insurance covers goods in transit over land, while ocean marine insurance protects goods during sea transit. Inland insurance also includes storage, whereas ocean insurance focuses on maritime risks such as storms and piracy.

2. How do marine insurance policies define "perils of the sea"?

"Perils of the sea" include natural hazards like storms, shipwrecks, collisions, piracy, and stranding. These are risks associated with maritime transportation and are typically covered in marine insurance policies.

3. What types of vessels are typically covered by marine insurance?

Marine insurance covers cargo ships, tankers, container ships, fishing vessels, passenger ships, and recreational vessels. Coverage may include both the hull and cargo, depending on the policy.

4. How is the cost of marine insurance determined?

Premiums depend on factors like the value of goods, the shipping route’s risk, type of goods, transport mode, journey duration, and coverage level. High-value goods or risky routes typically result in higher premiums.

5. What is the difference between open cover and specific cover marine insurance?

Open cover offers continuous coverage for all shipments within a policy period, while specific cover is for individual shipments or trips. Open cover is suitable for frequent shipments, while specific cover is ideal for one-time or infrequent shipments.

6. What is an Institute Cargo Clause, and how does it affect marine insurance?

The Institute Cargo Clause (ICC) defines coverage for marine cargo insurance. It comes in three types: ICC A (All Risks), ICC B (Named Perils), and ICC C (Limited Risks), determining the extent of coverage and premium rates.

7. How are claims handled in marine insurance?

Claims are handled by notifying the insurer, providing necessary documentation (e.g., bills of lading, invoices), and assessing the damage. A surveyor may inspect the loss, and if the claim is valid, compensation is provided as per the policy terms.

Can the policy be customised to fit specific needs?

Yes; marine single transit policies is usually tailored to meet the specific requirements of the business or individual. This may include customising coverage based on the nature of the goods and the mode of transportation.

Can I include high-value items in a Marine Open Policy?

Yes, high-value items can be included in a marine open policy. However, it is important to declare these items and ensure that the policy limits and coverage are adequate to protect their value.

How is the premium for Marine Insurance calculated?

Premiums are typically based on factors such as the value of the cargo, the type of goods, the route, the mode of transport, and the duration of the voyage.

Can Marine Insurance policies be customised?

Yes, policies can often be tailored to meet the specific needs of the business, including coverage for specific routes, types of cargo, and additional risks.

How do I file a Marine Insurance claim?

In the event of a loss or damage, notify your insurer immediately. Provide necessary documents such as the bill of lading, insurance policy, and damage report. The insurer will assess the claim and process it accordingly.

What documents are required to file a Marine Insurance claim?

Commonly required documents include the insurance policy, bill of lading, commercial invoice, packing list, survey report, and any other relevant documentation.

How long does it take to settle a Marine Insurance claim?

The time frame can vary depending on the complexity of the claim and the completeness of the documentation provided. Prompt reporting and submission of all required documents can expedite the process.

What should I do if my Marine Insurance claim is denied?

If your claim is denied, review the reasons provided by the insurer. You can appeal the decision by providing additional evidence or documentation to support your claim.

Are there any exclusions in Marine Insurance claims?

Yes, common exclusions include losses due to improper packaging, inherent defects in the goods, war, strikes, and intentional misconduct. Always review your policy for specific exclusions.

How do I renew my Marine Insurance policy?

Contact your insurer before the policy expiration date to discuss renewal options. Review your coverage needs and make any necessary adjustments to the policy.

Can I make changes to my Marine Insurance policy upon renewal?

Yes, you can update your policy to reflect any changes in your business operations, such as new routes, types of cargo, or additional coverage needs.

What factors should I consider when renewing my Marine Insurance policy?

Consider changes in your shipping routes, types of cargo, and any new risks that may have emerged. Review your past claims and adjust coverage limits as needed.

Is there a grace period for renewing Marine Insurance policies?

Some insurers may offer a grace period, but it’s important to renew your policy before it expires to avoid any gaps in coverage.

Can I switch insurers when renewing my Marine Insurance policy?

Yes, you can compare policies from different insurers and switch if you find a better option. Ensure there is no lapse in coverage during the transition.
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Bajaj Allianz Marine Insurance

Not many know, but one of the oldest insurance is marine insurance. You may have come across the word ‘Lloyds’ but have you ever come across the story?

Well, ‘Lloyds’ was a coffee house in Tower Street, London. In 1688, it was a favorite meeting place for shipcaptains, ship owners and traders. Eventually, it became a place to get the news related to shipping and later sometimes about marine insurance. The Marine Insurance Act of 1905 was adopted in India. The Marine Insurance Act, of 1963 is somewhat a replica of the same with some minor differences.

मरीन इंश्योरेंस क्या है?

Marine insurance in India is a type of commercial insurance that offers cover in case of loss/damage to the cargo/goods during transit. Transit here specifies the movement from one place to the destination place by road, rail, sea, or air. Each mode of conveyance has its own perils.

आंकड़ों के बारे में जानें!

● India holds the 16th position as the largest maritime country across the globe

● The Indian Maritime Sector contributes to 95% of India’s trade by volume and about 70% as per value

● In terms of ship recycling by tonnage, we as a nation have emerged as third largest globally

Amidst smooth seas or stormy waters, marine insurance is the anchor of protection. In a marine insurance policy, the risk commences and ends with the transit. The coverage offered is as per the duration clause and termination of transit clause.

● Specific/Single Transit Policy:

Covers a single transit with a defined cargo type, start and end point, mode of transit and sum insured.

● Annual Policy:

Covers all transits of a defined type within the policy period. Pre-defined cargo types, transit types, modes and the maximum value for each transit are required
At Bajaj Allianz General Insurance, we act as a safety net for various marine-related industries and offer them protection from an array of risks. With us, you can set sail without any worries and rise above the waves.

मरीन इंश्योरेंस महत्त्वपूर्ण क्यों है?

We need to comprehend everything that could be impacted in the event of an unforeseen incident before we can fully know the significance of Marine Cargo Insurance policy

● A cargo may get damaged, lost, or stolen

● The ocean may get polluted

In the occurrence of a marine disaster in transit, there are chances that you may face litigation and penalties, and the expenses can be financially distressing. Having comprehensive marine insurance is imperative for businesses that are engrossed in international trade and sea transportation. Being adequately insured not only gives financial security but also peace of mind..

Features of Marine Cargo Insurance Policy

Take a look below to learn the salient features offered under a marine insurance policy:

● Agreed Value Policy:

It is an indemnity policy, the sum insured can include not only the value of the cargo but also, freight, duties, insurance premiums, loading and unloading costs, various taxes, profit margins, etc.

● Assignment:

It means the transfer of all rights and benefits under the policy to a third party, who is not named in the marine policy as an insured. The marine policy is freely assignable unless it contains terms expressly prohibiting assignment. It can be assigned either before or after loss.

● Insurable Interest:

Insurable interest is to be proved at the time of loss only. This is due to the underlying contract being a sale-purchase contract- meaning that the title/ownership of the subject matter insured shifts from seller to buyer in the middle of the transit.

● International in Nature:

The marine clauses and forms used are the same across the globe

Eligibility Criteria of Marine Insurance

Anyone engaged in the movement of goods requires marine cargo insurance such as:

● Buyer

● Sellers

● Import/export merchants

● Buying agents

● Contractors

● Banks

Inclusions Under Marine Insurance

Let us now understand what remains covered in case of loss/damage to the insured reasonably attributable to:

● Fire, explosion

● Vessel or craft being stranded, grounded, sunk, or capsized

● Overturning or derailment of land conveyances

● Collision or contact of vessel craft or conveyance with any external object other than water

● Discharge of cargo at a port of distress

● General average sacrifice

ध्यान दें: This is not an exhaustive list. For complete information, please refer to the policy wordings carefully.

Exclusions Under Marine Insurance

Here’s a quick rundown of what remains uncovered in marine insurance:

● Loss, damage or expenses attributable to willful misconduct of the assured

● Ordinary or inevitable losses

● Loss, damage or expense caused by inherent vice or nature of the subject matter insured

● Loss/damage due to insufficient, unsuitable or defective packing (including stowage)

● Loss/damage or expenses proximately caused by delay even if the delay is caused by a peril insured against

● Loss damage or expenses arising from insolvency .

● Loss damage due to un seaworthiness of the vessel or craft, container, lift van employed for carrying the insured matter.

● Wars, strikes and civil commotions unless covered under separate endorsements.

ध्यान दें: This is not an exhaustive list. For complete information, please refer to the policy wordings carefully.

Types of Bajaj Allianz Marine Insurance Policy

Now that you know, the importance of Marine Insurance. Choose the right type of marine insurance policy considering your needs.

Take a look below at our wide range of marine insurance products:

● Marine Cargo - Import - Sea Voyage

● Marine Cargo - Inland Transit (Specific Voyage)

● Marine Cargo - Import - Air/Post/Courier/Road/Rail

● Marine Cargo - Export - Sea Voyage

● Marine Cargo - Export - Air/Post/Courier/Road/Rail

● Open Policy (Inland Transit)

● Open Cover (Import/Export Transit)

● Marine Open Certificate Policy