Marine Insurance · sub-product

Marine Export (CIF / CIP)

Cover for outbound consignments under CIF or CIP terms, structured to satisfy buyer requirements, LC banking terms and destination-country import documentation. Placed on ICC-A clauses for most consignments.

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Coverage at a Glance

Outbound Sea & Air

From Indian port of loading to destination buyer's premises

ICC-A Default

Broadest cover for exports, with downgrade to B or C only where buyer specifies

LC & Buyer Documentation

Policies aligned to LC terms and the buyer's required wording

Multi-Currency Issuance

USD, EUR or GBP policies where the export contract is denominated in foreign currency

Coverage

What this sub-cover provides

A focused placement that responds to the specific transit, treatment or workforce event this cover is designed for.

All-risk ocean transit

ICC-A clause cover for all sea-borne export consignments, including general average, salvage and jettison.

Origin port handling

Cover during loading at Indian port, including stevedoring damage and transhipment within India.

Destination inland delivery

Cover continues from destination port through to the buyer's named warehouse, regardless of country.

Letter of Credit compliance

Policy issued in the exact format required by the LC, including currency, insured names, voyage clause and policy attachment date.

Buyer-required extensions

War, strikes and specific destination-country requirements (e.g. inland marine in the United States) extended where the buyer's import documentation demands.

Rejection-and-return cover

Where a buyer rejects a consignment at destination, cover continues during return transit to India under the same policy.

Marine Insurance

Our Approach

Export marine is the claim that travels furthest before it is paid.

Export claims pass through three jurisdictions: the Indian insurer's loss-adjuster, the destination-country survey, and the buyer's commercial confirmation. The placement that survives all three is the one with clear ICC-A wording, accurate values and a destination-country surveyor pre-identified.

Key Benefits

What you get when we place this cover

ICC-A as the default

Indian export consignments default to ICC-A in our placements unless the buyer specifies a lower cover, the cost differential is rarely significant and the claim certainty is materially higher.

LC-format issuance

Policy schedules drafted to satisfy LC terms exactly. We send a draft to your LC banker for confirmation before binding.

Destination-country surveyor network

We maintain insurer relationships in major destination markets so the survey at arrival is co-ordinated through a known panel, not a stranger appointed by the buyer.

Foreign-currency policy issuance

USD, EUR or GBP-denominated policies available where the export contract specifies a foreign currency, avoids exchange-rate disputes at claim time.

FAQ

Common Questions

Under FOB and EXW Incoterms, the buyer takes responsibility for arranging marine insurance from the point of dispatch onwards. If you are the seller, you do not need marine cover beyond the named delivery point. We can advise on cover for the inland leg up to the FOB or EXW point if that section is uninsured.

ICC-A is an all-risk basis - cover applies unless specifically excluded. ICC-B and ICC-C are named-perils bases where the burden of proving the cause of loss falls on you. For exports where survey and documentation will happen in another country, ICC-A removes one major dispute pathway.

Yes. Where the export contract is denominated in USD, EUR or GBP, we issue the marine policy in the same currency. This removes exchange-rate disputes between policy issuance date and claim settlement date.

Most modern export marine policies include rejection-and-return cover, where the consignment is covered during return transit to India following buyer rejection. This is a specific extension and we confirm it in writing on every placement.