At Mega Brokers we understand that transported goods face a number of risks during the transport. Our executives assess your risks in detail and in cooperation with the leading insurance companies, create your risk management plan based on:
- the means to be used for transportation
- the type and value of the goods
- packing method
- the place of loading, the destination and the route to be used
The terms of insurance for transportation are governed by the LLOYD’S Clauses and could be briefly summarized in the following categories:
- Coverage with Clause A (against all dangers) with insurance cover against all risks during the journey, with the exception of events that are considered as fixed exceptions in all insurance contracts. An indicative example is the fraudulent compensation claims, the pollution from radioactive materials, etc.
- Coverage with Clause B (relates to named risks) that covers basic risks, like in clause C, but has a broader coverage, without however approaching the terms of clause A.
- Coverage with Clause C (relates to named risks) means that the customer will be compensated if and when specific events take place and relates with specific risks such as:
Land Transportation: Fire, impaction, collision, overturning, deflection off course (derailing or deflection off road) and others, relative accident risks (random incident, irrespective of blame, with direct consequences of damage to the insured goods)
Marine Transportation: Fire, grounding, sinking, collision, participation in general jettison and others, relative risks occurring from accident (random incident, irrespective of blame, with direct consequences of damage to the insured goods)
Of the aforementioned clauses, the most commonly used are Clause A & C. Moreover, these clauses can be extended with additional insurance coverage such as:
- risk of war
- malicious actions