National Marine Insurance

Types of Marine Insurance Plans Offered by National Insurance Company Limited

National Insurance Company Limited offers the following insurance plans under Marine Insurance:

• Marine Specific Policy
• Marine Open Policy
• Marine Open Cover
• Sales Turnover Policy (STOP)
• Duty Insurance Policy
• Increased Value Policy
• Delay in Start-up Insurance Policy (DSU)

National Marine Insurance: Inclusions

Here is the basic coverage provided by the National Marine Insurance policy:

1. ICC A & ICC B

   The International Cargo Clause (ICC) is an insurance coverage that caters exclusively to international cargo transit. There are two types of coverage provided under the ICC:

   ICC A - This coverage offers protection against damages to cargo during transit, excluding damages caused by rainwater.

   ICC B - This coverage offers protection against accidental damages only.

2. ITC A & ITC B

   The Inland Transit Clause (ITC) is a type of insurance coverage that specifically applies to transit within India. It also has two types of coverage available:

   ITC A - This coverage protects against all types of damages except for those caused by rainwater.

   ITC B - This coverage only protects against accidental damages.

   It's essential to note that for both ITC and ICC, the insured must have an insurable interest in the property to qualify for coverage under marine/cargo insurance.

National Marine Insurance: Exclusions

National Marine Insurance does not provide coverage for the following:

• Damage caused by intentional misconduct.
• Damage caused by inadequate packaging.
• Loss or damage caused by delays in the cargo's arrival.
• Losses caused by the financial default or insolvency of the cargo operator.

National Marine Insurance: Claim Process

Follow the steps below to raise the claim:

• Step 1: Let the insurer know about the incident as soon as possible.
• Step 2: Gather evidence of the damage or loss, such as taking pictures.
• Step 3: Keep your policy documents and receipts ready to submit along with the claim form.
• Step 4: Request the insurer for the claim form and fill it out accurately with all the necessary information.
• Step 5: An inspector will be sent by the insurer to evaluate the damage or loss, and you should cooperate with them.
• Step 6: The insurer will process the compensation amount and send it to you after the inspector submits their report.

National Marine Insurance: FAQs