Cargo insurance are unified under the original London clauses so. “Institute Cargo Clauses”.
They are internationally accepted and uniform throughout the world. All insurance companies in Bulgaria or use them.
Three types of clauses “A”, “B” and “C” are different depending on the type of coverage. The first clause provides full coverage, Clause “C” – limited coverage, and Clause ‘C’ – minimally covered.
- Clause “A” covers all risks of loss or damage to insured cargo during transport than risk war, political unrest, strikes, riots, bankruptcy of the insured, bankruptcy, exchange differences in the value of goods exchange, intentional act or omission of the insured, as well as damage caused by insufficiency or unsuitability of packing or the unsuitability of the vehicle. To cover risks include fire, explosion, accident, natural disaster, theft, this risk is excluded in our case of theft of the entire vehicle.
- Clause ‘B’ covers fire, natural disasters, earthquakes, wetting of the cargo entering the wet river water in the hold or container, partial or complete loss of a package of goods, but many insurers are rarely purchased.
- Clause ‘C’ is the only specialized and covers fire, explosion, accident, and a complete loss. It is insured goods in bulk or bulk. In general, we also provide coverage on:
- Insurance of cargo transported
- Expedition responsibility
- Liability of the carrier route
- Casco of railway rolling stock
- Special precautions to insure financial losses in case of a conditional future
