Insurance policy

It is a policy that protects against risks related to the transportation of goods from their point of origin to their final destination. This type of insurance safeguards companies and owners of goods against possible losses or damages that may arise during transportation by land, sea, air or rail means. Coverage may include situations such as accidents, theft, damage due to improper handling, natural disasters and other unforeseen events that may compromise the integrity of the merchandise.

All Risk Coverage or Full Cover – General Merchandise

All Risk Coverage or Full Cover for General Merchandise offers complete protection for merchandise during transport. This implies that almost any type of damage or loss experienced by the merchandise is covered, except for specific exclusions mentioned in the policy. The main features of this coverage include:

• Physical damage to merchandise: Covers any damage that the merchandise may suffer due to accidental events, such as collisions, overturns, fires, floods, among others.
• Theft or loss: Protects against theft of merchandise during transport, as well as its total or partial loss.
• Damage from handling: Covers damage caused by handling during loading and unloading of merchandise.
• Natural disasters: Includes coverage for events such as earthquakes, hurricanes, storms and other natural phenomena that may affect transportation.

Full Coverage (All Risk) based on ADS 1973/84

Full Coverage based on ADS 1973/84 refers to a type of policy that follows the clauses established by the Institute Cargo Clauses (A) of 1973/84. The ADS (All Risks) 1973/84 are a set of standard terms used internationally to define the conditions of coverage in maritime transport insurance. These clauses are widely accepted and provide a clear and understandable structure for insurance coverage. The main features of this coverage include:

• Broad coverage: Similar to general All Risk Coverage, it covers almost any eventuality that may cause damage or loss of merchandise, unless specifically excluded in the policy.
• Specific exclusions: Although coverage is broad, there are common exclusions that generally include damages from acts of war, terrorism, willful negligence of the insured, and other specific risks listed in the policy.
• International standard: ADS 1973/84 clauses are recognized and used internationally, facilitating understanding and agreement between insurers and insureds in different countries.

Scope:

• Door to Door
• General Average
• The moment of loading and unloading
• Up to a total of 60 days in intermediate deposits
• Our coverage does not have deductibles

Minimum documentation to present in case of claim or loss of merchandise is the following:

• Insurance policy
• Claim Bill: Claim letter addressed to the insurer indicating its certificate, which must include a brief description of what happened and a detail of the affected merchandise in amount (dollars) and kind (boxes, pallets, pieces, etc.)
• Commercial invoice
• Copy of transport documents (AWB, BL or Waybill)
• Formal protest letter: Aimed at those potentially responsible for the damage and/or loss, through which the beneficiary holds third parties involved in the operation responsible.
• Packing list
• Delivery document (Remitto/Referral Guide)
• Digital photos

In the case of perishable merchandise, the following must be added:

• Cold menu
• Pre-shipment survey and report
• Thermograph reading
• Packing List

In the case of personal effects:

• Packing List valued and signed by the client

IMPORTANT: Late submission of this mandatory documentation delays the proper resolution of the claim.