MUTUAL FUNDS

Marine Insurance

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, (container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. When goods are transported by mail or courier, shipping insurance is used instead.

* Newbuilding risks

This covers the risk of damage to the hull while it is under construction. This covers the risk of damage to the hull while it is under construction.

* War risks

General hull insurance does not cover the risks of a vessel sailing into a war zone. If an attack is classified as a "riot" then it would be covered by war-risk insurers.

* Increased Value (IV)

Increased Value cover protects the shipowner against any difference between the insured value of the vessel and the market value of the vessel.

* Open Cargo/Shipper’s Interest Insurance

This policy may be purchased by a carrier, freight broker, or shipper, as coverage for the shipper’s goods. In the event of loss or damage, this type of insurance[5] will pay for the true value of the shipment, rather than only the legal amount that the carrier is liable for.

* Yacht Insurance

Insurance of pleasure craft is generally known as "yacht insurance" and includes liability coverage. Smaller vessels such as yachts and fishing vessels are typically underwritten on a "binding authority" or "lineslip" basis.This covers the risk of damage to the hull while it is under construction.

* Overdue insurance

This is a form of insurance now largely obsolete due to advances in communications. It was an early form of reinsurance and was bought by an insurer when a ship was late at arriving at her destination port and there was a risk that she might have been lost (but, equally, might simply have been delayed

* Cargo insurance

Cargo insurance is underwritten on the Institute Cargo Clauses, with coverage on an A, B, or C basis, A having the widest cover and C the most restricted. Valuable cargo is known as specie. Institute Clauses also exist for the insurance of specific types of cargo, such as frozen food, frozen meat, and particular commodities such as bulk oil, coal, and jute. Often these insurance conditions are developed for a specific group as is the case with the Institute Federation of Oils, Seeds and Fats Associations (FOFSA) Trades Clauses which have been agreed with the Federation of Oils, Seeds and Fats Associations and Institute Commodity Trades Clauses which are used for the insurance of shipments of cocoa, coffee, cotton, fats and oils, hides and skins, metals, oil seeds, refined sugar, and tea and have been agreed with the Federation of Commodity Associations.

Mon - Sat 9.00 AM - 6.30 PM

Sunday Closed

BEGUMPET

Hyderabad, Telangana,500016