A Marine Specific Insurance Policy is a transit insurance policy that covers the possible financial loss of goods transported from a place to another place via Road/ Rail/ Air/ Sea/ Courier, etc.

Key Benefits :

• The buyer gets coverage for specific voyages under a specific policy as and when required.
• In order to evaluate the risk, the buyer must provide details of commodity, conveyance mode, packaging, voyage details as well as the value of the commodity.
• The premium of the marine specific voyage policy is paid before the beginning of the journey.

Marine open insurance is a policy that offers coverage for your cargo in transit during a year. Open marine policy is also known as a floating policy because you need not buy individual policies for every consignment. This saves you from the hassles of buying a new policy, such as researching, paperwork, paying premiums, comparisons, etc., every time your goods are in transit from one place to another.

Key Benefits :

• It safeguards against risks faced by cargo during transportation.
• Helps in risk management.
• For compliance with regulatory requirements.

The Multimodal Transportation of Goods Act of 1993 establishes legal responsibility for cargo loss or damage. As a result of the foregoing, the MTO (licensed operator) is liable for any loss or damage to the goods entrusted to them for transportation.

MTO Liabilities Insurance is designed to protect transportation operators and freight forwarders from legal liability that may arise as a result of their operations. MTO’s legal liabilities are covered by the policy. All marine liabilities of Freight Forwarders, MTOs, Haulers, In Transit Warehousing, Ship Agents, Clearing and Forwarding Agents, Custom House Agents, and Packing & Consolidating Agents are covered by the MTO Liability Insurance.

Key Benefits :

• Legal liability arising from the insured’s operations as a result of the insured’s, his agent’s, or sub-negligent contractor’s act, error, or omission.
• The policy also covers property loss or damage, as well as bodily death, injury, or illness that is legally recoverable as a result of the insured’s operations.

Marine Sales Turnover Insurance Policy popularly called STOP is a distinguished product. It is an Open Policy in the real sense of the term. STOP covers transit of raw material, semi-finished & finished products pertains to insured's trade which encompasses Export, Import, Inter Depot movement from originating point to a destination on a seamless basis.

Key Benefits :

• Offers uninterrupted coverage on a global scale.
• The policy can be tailored according to specific business needs.
• Ensures coverage for both the import and export of goods.
• The insurance coverage commences from the moment the raw material is acquired and continues through all transportation phases and storage at intermediary sites, culminating at the final destination or the juncture where the customer's liability concludes.

Inland marine insurance protects your business from loss or damage to equipment, machinery, products, or other property transported over land. It covers property you use at a job site, store at a warehouse, or move from place to place by train or truck. Inland marine is an offshoot of ocean marine insurance, which covers property transported by sea.

Key Benefits :

• Goods in transit (either owned by you or temporarily in your care).
• Equipment and tools that move from one job location to another.
• Valuable property, such as fine arts.
• Inland marine insurance coverage includes protection from weather-related damage such as fire, wind, lightning, and earthquakes. Theft is also covered.