- Cover is offered in accordance with the institute cargo clauses (ICC).
There are three sets of I.C.C viz; A, B and C
- Institute Cargo Clauses (A); is the widest and covers ALL RISKS subject to specified exclusions. Mostly for goods transported by Air.
- Institute Cargo Clauses (B); which is the second widest and covers water damage caused by entry of sea, lake or river water as well as total loss of any package lost overboard or dropped during loading or unloading in addition to major fortuities e.g. fire stranding sinking collision etc.
- Institute Cargo Clauses (C ) which is the narrowest in scope and restricts cover to the effects of major fortuities eg. Fire stranding sinking collision etc.
In addition to the institute cargo clauses mentioned above, other important clauses are: –
- Institute Standard Conditions for cargo contracts
- Institute of RSCC clauses
- Institute cargo clauses (Air)
- Institute replacement clause
- Institute classification clause
- Institute theft pilferage and non-delivery clause