Energy. Engineering. Financial Institution. Liability. Marine. Property & Miscellaneous. Medical Malpractice. Aviation. Special Risk. Motor Insurance.

Marine

Goods In Transit Insurance

Protects your deliveries to keep your business moving.

What is Goods In Transit Insurance?

It is a policy that covers your insured goods against loss or damag by fire, theft or accidental means whilst the goods are in transit in a road vehicle or train or housed in the ordinary course of transit.

Why Goods In Transit Insurance?

Benefits at a glance.

Protection for goods

Covers your insured goods against loss or damage by fire, theft or accidental means.

Coverage during transit

Cover for goods applies while they are:

In transit in a road vehicle or train.
Housed in the ordinary course of transit.

Key Coverage

1. Benefits for fire, theft or accidental means

Covers loss or damage to goods by fire, theft or accidental means within the territorial limit (except as provided in the exclusions) while:

In or on or being loaded on or unloaded from any road vehicle or goods train.
Temporarily housed in the ordinary course of transit whether on or off the said conveyance

2. Lorry clause

Covers loss or damage to goods by fire, collision and conveyance overturning

3. Extensions

For an additional premium, you may extend coverage to riots and strikes, as provided in the Strikes, Riot and Civil Commotion Clause.

Please refer to the policy contract for the full details of benefits, terms and exclusions that are applicable. The information provided here is a brief summary for quick and easy reference. The exact terms and conditions that apply are stated in the policy contract

Marine Cargo Insurance

Secures your cargo in transit – over land, sea and air.

What is Marine Cargo Insurance?

It is a policy that covers loss of or damage to goods in transit by sea, air and land.

Why Marine Cargo Insurance?

Benefits at a glance.

Varied offerings

Choose from:

Institute Cargo Clauses (A) 1.1.82 / 1.1.09.
Institute Cargo Clauses (B) 1.1.82 / 1.1.09.
Institute Cargo Clauses (C) 1.1.82 / 1.1.09.

For an additional premium, you may extend coverage to:

War
Strikes

Key Coverage

1. Institute Cargo Clauses (A) 1.1.82 / 1.1.09

Covers all risks of loss of or damage to the goods in the Institute Cargo Clauses (A) except as provided in the exclusions.

2. Institute Cargo Clauses (B) 1.1.82 / 1.1.09

Covers against loss of or damage to the goods attributable to or caused by in the Institute Cargo Clauses (B):

Fire or explosion
Vessel or craft being stranded grounded sunk or capsized
Overturning or derailment of land conveyance
Collision or contact of vessel craft or conveyance with any external object other than water
Discharge of cargo at port of distress
Earthquake volcanic eruption or lightning
General average sacrifice
Jettison
Washing overboard
General average and salvage charges
Entry of sea, lake or river water into the vessel craft hold conveyance container lift van or place of storage
Total loss of any package lost overboard or dropped whilst loading on to, or unloading from vessel or craft

3. Institute Cargo Clauses (C) 1.1.82 / 1.1.09

Covers against loss of or damage to the goods attributable to or caused by in the Institute Cargo Clauses (C):

Fire or explosion
Vessel or craft being stranded grounded sunk or capsized
Overturning or derailment of land conveyance
Collision or contact of vessel craft or conveyance with any external object other than water
Discharge of cargo at port of distress
General average sacrifice
Jettison
General average and salvage charges

4. Extensions

War as provided in the Institute War Clauses (Cargo) and Strikes as provided in the Institute Strikes Clauses (Cargo) are extensions cover in conjunction with the same shipment.

Please refer to the policy contract for the full details of benefits, terms and exclusions that are applicable. The information provided here is a brief summary for quick and easy reference. The exact terms and conditions that apply are stated in the policy contract.

Marine Hull

Protects your vessel for smooth sailing.

What is Marine Hull?

It is a plan that provides you with coverage for your vessel during its operation within the specified trading limits.

Why Marine Hull?

Benefits at a glance

Comprehensive cover for vessel

Hull and machinery insurance.
War risks.
Disbursements and increase value insurance for commercial hulls such as:
- Tugs
- Barges
- coastal and ocean-going vessels.

Note: Malaysian registered vessels have to be insured locally in Malaysia

Key Coverage

Your vessel is covered during operation within specified trading limits.

Coverage and benefits are subject to

Institute Time Clauses (Hull) 1.10.83.
Partial Loss and Total Loss of your vessel
Institute Time Clauses (Total Loss only) 1.10.83.
Total Loss (Actual Total Loss and Constructive Total Loss) of your vessel caused by:
- Perils of the seas, rivers, lakes or other navigable waters
- Fire and explosion
- Violent theft by persons from outside the vessel
- Jettison
- Piracy
- Breakdown of or accident to nuclear installations or reactors
- Contact with aircraft or similar objects, or objects falling therefrom, land conveyance, dock or harbor equipment or installation
- Earthquake, volcanic eruption or lightning

And provided such loss or damage has not resulted from lack of due diligence by the Assured, Owners or Managers.

Accident in loading, discharging or shifting cargo or fuel
Bursting of boiler, breakage of shafts or any latent defects in the machinery or hull
Negligence of Master Officer, Crew or Pilots
Negligence of repairers or charterers, provided they are not Assured hereunder
Barratry of Master Officers or Crew

Please refer to the policy contract for the full details of benefits, terms and exclusions that are applicable. The information provided here is a brief summary for quick and easy reference. The exact terms and conditions that apply are stated in the policy contract.

Trade Credit Insurance

Running a business poses many challenges especially those which are beyond your control. When your customer does not pay for the goods and services rendered, you are faced with a credit risk which can affect the quality of your bottom line and your profitability. Trade Credit Insurance protects your business with account receivable protection against losses due to credit risks such as customer’s insolvency, bankruptcy and failure to meet agreed payment terms and conditions.

This insurance insures your company against your customers’ failures in paying their trade credit debts owed to you. As such, the trade credit insurance gives you the confidence to grow your business by minimizing your credit risk exposure, enhancing your relationship with customers, forging new customer relationships, improving banking relationships and access to finance.

Specifications

Simple, affordable and easy to implement trade-related insurance solutions
Flexible trade-related insurance solutions tailored to the needs of companies of various sizes
Domestic and worldwide – wherever you trade

Please refer to the policy contract for the full details of benefits, terms and exclusions that are applicable. The information provided here is a brief summary for quick and easy reference. The exact terms and conditions that apply are stated in the policy contract.

Warehousemen/Carrier’s Liability

It is a policy that protects your Legal Liability as well as defense cost and expenses when you transport and store the goods and merchandise in your care, custody or control.

Why Warehousemen/Carrier’s Insurance?

Benefits at a glance.

Protection for goods

Covers your:

Legal liability.
Defense costs
Expenses for loss and damage.

Coverage during storage and transit

Cover applies while goods and merchandise are:

Temporarily stored in a warehouse you operate in.
On a vehicle in the ordinary course of transit.

Key Coverage

You are covered for

Amounts that you are legally liable to pay for claims made against you due to direct physical loss of or damage:
- occurring during the coverage period.
- to the property of others stored in the warehouse(s) operated by you at the location(s) specified and/or
- while on motor vehicle(s) in the ordinary course of transit anywhere within the territorial limit specified.

All costs incurred in any legal proceedings defended by us and all interest, occurring after the court judgment is formally recorded, which is not in excess of the policy limit except
- if the claim is successfully resisted by you, we will pay all costs, charges and expenses incurred, up to but not exceeding the policy limit.
- if a payment exceeding policy limit has to be made to dispose of a claim, it will be limited in proportion to the costs, charges and expenses that the limit bears to the amount paid to dispose of the claim.

Our coverage under this policy will stay within the sum insured stated, in respect of any one occurrence or in aggregate during the insured period.

Please refer to the policy contract for the full details of benefits, terms and exclusions that are applicable. The information provided here is a brief summary for quick and easy reference. The exact terms and conditions that apply are stated in the policy contract.