dear all,
please help me on the issue. LC calls for transit insurance covering all risk. the transport more is by lorry. apart from the issues that arises from UCP 600, could someone please tell me whether the All risk really relates to inland transportation. a reference would be helpful.
All risk in transit insurance
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shahriar
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iLC
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Goods in transit insurance
this should help you
Goods in Transit Insurance
This policy provides cover against loss and/or damage to property insured whilst in transit on a lorry, train or any other conveyance licensed to carry goods.
Scope of Cover
There are two types of cover afforded under this class:-
1. Inland Transit (All Risks)Clause
Covering against all risk of loss and/or damage to the insured goods whilst in transit by road and/or rail. The exclusion are delay, inherent vice, mechanical derangement, war and strikes, riot and civil commotion.
2. Inland Transport Clause (Lorry Clause)
Covering loss and/or damage to the Insured’s goods whilst in transit by road/rail caused by fire, lightning, breakdown of bridges, collision, overturning or derailment. Loss as a result of theft is not covered under this clause.
Goods in Transit Insurance
This policy provides cover against loss and/or damage to property insured whilst in transit on a lorry, train or any other conveyance licensed to carry goods.
Scope of Cover
There are two types of cover afforded under this class:-
1. Inland Transit (All Risks)Clause
Covering against all risk of loss and/or damage to the insured goods whilst in transit by road and/or rail. The exclusion are delay, inherent vice, mechanical derangement, war and strikes, riot and civil commotion.
2. Inland Transport Clause (Lorry Clause)
Covering loss and/or damage to the Insured’s goods whilst in transit by road/rail caused by fire, lightning, breakdown of bridges, collision, overturning or derailment. Loss as a result of theft is not covered under this clause.