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单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Chapter 8,Cargo Transport,Insurance,Key points:,Basic concepts:,insurer, insured, underwriter, applicant.,Risks:,Perils of the Sea,&,Extraneous Risks,Loss:,Total Loss,&,Partial Loss,Basic Risks,and,Additional Risks,of,CIC,Calculation of Insured Amount,Some basic concepts,Applicant,(,投保人,),The insured,（被保险人）,Underwriter,(,承保人,),= The insurer,（保险人）,= insurance company,Insurance Broker,：,an agent who sells insurance.,Claimant:,someone who claims a benefit or title.,Insured Amount,(,保险金额,),Premium,(,保险费,),Insurance policy,(,保险凭证,/,保单,),Premium rate,(,保险费率,),Some Chinese & foreign insurers,PICC (,Peoples Insurance Company of China,),Corporation of,LIoyds,劳合社,:,水险、航空、汽车、卫星等,.,ING,荷兰国际集团,(,No.13 of World Top 500 ),AXA,法国安盛,(,No.15 of World Top 500,),Allianz,德国安联,(,No.16 of World Top 500,),AIG,美国国际集团,(,No.20 of World Top 500,),GENERALI,意大利忠利,(,No.21 of World Top 500,),AVIVA,英国英杰华,(,No.28 of World Top 500,),International Cargo transport Insurance,Risks,1.,Perils of the sea,Natural calamities,:,Caused by the forces resulting from the changes of nature, e.g. vile weather, thunder, lightning, tsunami, earthquake, flood, etc.,b.,Fortuitous accidents:,The accidents resulting from unexpected causes, e.g. the carrying conveyance being grounded, stranded, or in collision with floating ice or other objects, as well as fire or explosion,.,2.,Extraneous risks,The risks beside the perils of the sea.,(,Not covered by W.A or F.P.A.),General extraneous risks,（一般外来风险）,:,include the risks of theft, shortage, leakage,dashed by fresh and rain water,sweating and heating, intermixture and contamination, taint of odor, hook damage, breakage of packing, rusting, etc.,(be,covered only by All Risks),Special extraneous risks,（特殊外来风险）,:,include the risks on deck, war, strikes, failure of delivery, rejection, pirate,( sea rover), etc.,3,、,Ocean losses,a.,Total loss,Actual Total Loss,:,The insured subject matter is totally and irretrievably lost,.,(2),Constructive Total Loss,:,It is estimated that the actual total loss of cargo is inevitable or the cost of salvage or recovery could exceed the value of the cargo.,返回目录,Partial loss,(1) General Average loss:,共同海损,A,special,sacrifice,and,extra expense,intentionally incurred,for the general interests,of the,ship owner,the insurer, and,the owners of the various cargoes,aboard the ship.,(2) Particular Average loss:,单独海损,A,particular cargo is damaged by any cause and the damage does not come up to a total loss, i.e., only a partial loss, which shall be borne by the owner of the individual consignment.,返回目录,C.,Maritime charges,(no in the book),(1),Sue and labor charges:,施救费用,The reasonable expenses to save, protect, or reduce the loss by,insured,and,the policy beneficiary,. It also should be covered by the insurer,.,(2),Salvage charges,:,救助费用,The expenses of the third party to,successfully,save the cargo and the ship.,According to the relative laws, the insurer shall pay to the salver (third party). But there is a principle, i.e., “no save-no pay”.,II,.,China Insurance Clauses,(CIC),The contents,(same as Institute Cargo Clause),:,a.,Basic risks,(3 conditions,),：,F.P.A.,Free from Particular Average,(,平安险,),W.P.A.,or,W.A.,With Particular Average,With Average,（水渍险）,All risks,(,一切险,),返回目录,1.,F.P.A.,(,平安险,),Free from Particular Average,8 circumstances:,Actual,total loss,or,constructive total loss,from,natural calamity,i.e.,vile weather, bore, earthquake, flood,The,Insured must authorize the insurer if it is the constructive total loss.,(2),Total loss or partial loss,caused by,fortuitous,accidents,i.e.,stranded, collision with floating ice or other objects, fire or explosion,(3) Partial loss caused from natural calamity again before and after fortuitous accidents,(4) Total loss or partial loss of one or several pieces of cargo dropping into the sea when shipment or during transport.,Continued,:,(5) Reasonable expenses,to save, protect, or reduce the loss by insured, but no more than the insured value.,(6) Special expenses of unloading, storage and shipping in harborage after ship getting perils of the sea.,(7) The sacrifice, sharing and the charges of general average.,(8) If the term of “,collision with,ships,” is involved in transport contract, the,owners of the cargoes should compensate the loss of the ship owner,.,2,.,W.P.A.,or,W.A.,(,水渍险,),It covers,partial loss,due to,natural calamity,(,vile weather, lightning, tsunami, earthquake and/or flood,),as well as the risks covered under,F.P.A. condition,as mentioned above.,3,.,All risks,(,一切险,),Aside from the risks covered under the,F.P.A. and W.A. conditions, it also covers all risks of losses or damage to the insured goods whether,partial or total,arising from,external causes,in the course of transit,(general extraneous risks),.,返回目录,Relations between three kinds of basic insurance coverage,F.P.A.=,W.P.A,.,Particular Average,W.P.A.(,W.A,.) =,F.P.A.,+,Particular Average,caused by natural calamity,All Risks =,F.P.A,.+,Particular Average,+,General,Additional Risks,=,W.P.A,. +,General Additional Risks,W / W Clause:,Warehouse to warehouse clause:,1.,From the warehouse in departure to the final warehouse in destination;,2.,or 60 days after unloading.,返回目录,b.,Additional risks,(attached risks,),These kinds of risks cant be covered independently; they shall be underwritten depending on one of the basic risks.,1).,General additional risks,(11 conditions,),2).,Special additional risks,(8 conditions,),1) General additional risks,11 general conditions,to be,covered by All Risks,1.,Clash & breakage,/,碰损破碎险,2.,Taint of odor,/,串味险,3.,Fresh water &/or rain damage,/,淡水雨林险,4.,T.P.N.D.,Theft, pilferage and non-delivery /,偷窃、提货不着险,5.,Shortage,/,短量险,6.,Leakage,/,滲漏险,7.,Intermixture & contamination,/,混杂玷污险,8.,Hook damage,/,钩损险,9.,Sweat and heating,/,受潮受热险,10.,Rust,/,锈损险,11.,Breakage of packing,/,包装破碎险,2) Special additional risks,9 special conditions,Besides All risks, the following risks should be bought,in addition:,1.,War risks,/,战争险,direct loss only on board of ship or lighter, but not for loss of atom bomb.,2.,Strike risks,/,罢工险,direct loss & general average of it,3.,Aflatoxin,/,黄曲霉素,险,4.,Failure to deliver,/,交货不到险,no delivery after 6 months,5.,On deck risks,/,舱面险,6.,Import duty,risk/,进口关税险,total duty for damaged goods.,7.,Rejection risk,/,拒收险,rejected by importing government,F.R.E.C.,(,Fire,Risk Extension Clause at,hong,Kong,),/,港澳存仓险火险扩展条款,9. Pirate risks,/,海盗险,Calculation of insured amount,Rate of Insured Addition,:,CIF,or,CIP x 10%,Insured amount,=,C,I,F,(,or,C,I,P,),x,(,1+10%,),If it is an import consignment under FOB term:,Insured amount,=,FOB,(,or,FCA,),x,(,1+ transport rate + insured rate,),If consignment price and freight is given (,CFR or CPT,):,CIF,(,CIP,),=,CFR,(,or,CPT,),/,1 -,【,Insured rate,x,(,1+10%,),】,Premium,=,CIF,(,or,CIP,),x,(,1+10%,),x,Premium,rate,Exercises,Shanghai-VW Auto Joint venture will export cars to,Aden,Yemen,under CIF term. The sales contract says as following:,Insurance: To be covered by the seller for 110% of total invoice value against All Risks, War risks and pirate risks.,The invoice value is EUR1,500,000,CIF Aden,the rate of All Risks is 0.8%, the rate of War risks is 0.13%, and the pirate rate is 0.5%.,Pls,calculate,the,insured amount,and,the,premium.,If the pirate rate is increased to 5%, how much is the premium?,Insured amount,=,C,I,F,(,C,I,P,),x,(,1+10%,),Premium,=,CIF,(,CIP,),x 110%,x,Premium rate,Insured amount,= EUR,1,500,000,x,(,1+10%,),= E,UR1,650,000,Premium,=,Insured amount,x,Premium rate,=,1,650,000,x (0.8% + 0.13% + 0.5%),=,1,650,000,x 1.43% =,EUR23,595,If pirate rate is changed to 5%:,New premium,=1,650,000 x (0.8%+0.13%+5%),=1,650,000 x 5.93% =,EUR97,845,Ways to make the insurance clause,保险由卖方按发票金额的,0.4%,投保平安险（水渍险,/,一切险）,以中国人民保险公司,2008,年,11,月的有关海洋运输货物保险条款为准,。,Insurance: To be covered by the seller,for,0.4% of total invoice value,against,F.P.A.(W.P.A. / All Risks), as per and subject to the relevant ocean marine cargo clauses of Peoples Insurance Company of China, dated Nov. 2011.,Additional risks,附加险条款举例,：,加保战争险，费率,0.03%,；短量险，费率,0.02%,短量免赔率,0.5%.,Including War Risks for 0.03% and shortage of weight for 0.02% in excess of 0.5%.,Summary :,Concepts about insurance,Perils of the sea & Extraneous risks,Total loss:,Actual Total Loss,&,Constructive Total Loss,Partial loss,:,General Average,&,Particular Average,3,Basic Risks,of CIC,:,F.P.A., W.P.A., All risks,11,General additional risks &,9 Special additional risks of CIC,Calculation of insured amount,and premium,How to make the insurance clause,I. Single choice questions.,1. The person who enters into an insurance contract with insurer is called ( ),A. the insured B. underwriter C. broker D. agent,2. Usually the minimum amount insured should be the CIF value of the goods plus ( ),A. 40% B. 30% C. 20% D.10%,3. Which of the following risks is not covered in FPA coverage? ( ),A. general average B. fire,C. salvage charges D. war,4. Which of the following risks is not covered in All Risks coverage? ( ),A. natural calamities B. strike C. fire D. collision,5. Which of the following coverage does not cover partial loss or damage resulting from natural calamities? ( ),A. W.P.A. B. F.P.A. C. All risks,D. Institute Cargo Clause,6. Damage to cargoes unavoidably incurred in the course of fire-fighting operations can be regarded as ( ).,A. particular average B. general average,C. partial loss D. total loss,7. The term cargo insurance applies to ( ) transportation.,A. marine B. air C. land D. all of the three,8. The ( ) refers to the person who pays the premium.,A. insurer B. insured,C. freight forwarder D. insurance broker,9. “Particular Average” is described in the policy as “fortuitous ( ) loss”.,A. partial B. total C. intentional D. accidental,10. FPA provides a more limited cover than WPA since it does not include ( ) losses and damages from natural calamities.,A. partial B. total C. general D. accidental,11. FPA is not suitable for ( ) cargo, which can suffer losses or damage by pilferage or breakage of contents.,A. bulk B. unpacked C. general D. common,12. WA means with “( )” both from “General Average” and “Particular Average”.,A. partial loss B. total loss,C. average loss D. average,13. War risks differ from strikes, riots or civil commotion in that it excludes the goods in transit ( ).,A. by sea B. by air,C. on the land D. by inland waterway,14. War Risks are added to the ( ) insurance cover.,A. general B. particular C. average D. main,15. FPA ( ) contribution to General Average.,A. is excluded B. is included C. excludes D. includes,16. Which of the following risks are covered by the All Risks coverage of PICC Ocean Marine Cargo Clauses. ( ),A. War and Fire B. Strike and delay,C.,Aflatoxin,and on deck D Heavy weather and fire,17. Which of the following coverage does not cover partial loss of damage resulting from natural calamities. ( ),A. WPA B. FPA C. ICC(B) D. ICC(A),18. ( ) defined as loss arising in the consequence of extraordinary and intentional sacrifice made, or expense incurred, for the common safety to the ship and cargo.,A. Particular average B. General average,C. Without average D. With average,19. Which of the following risks is not covered by the All Risks coverage of marine cargo transportation insurance ( ).,A. delay B. flood C. lighting D. heavy weather,20. The general guiding rate of the insurance premium is ( ) of the amount insured.,A. 0.5% B. 1% C. 2% D. 10%,21. In international trade, the insured amount is often the ( ) value of the consignment plus 10%.,A. FOB B. CFR C. CIF D. DDU,22. W/W clause is the liabilities commencement and termination period of ( ),A. carrier B. shipper C. consignee D. insurance,II. Multiple choice question (choose at least two answers which are correct in the followings).,Which of the following principles are applicable to marine cargo insurance?,A. insurance interest B. utmost good faith,C. indemnity D. all risks,2. Which of the following risks are covered in All Risk coverage?,A. war risks B. strike risks,C. rust risks D. shortage risks,3. The premium rates may vary depending on factors such as ( ),A. type of goods B. value of the goods,C. mode of transportation D. type of risks covered,4. Which of the following risks belong to the general additional risks.( ),A. FPA B. WPA C. leakage risks,D. intermixture and contamination risks,5.,Institute Cargo Clause (B) covers loss or damage to cargo caused by ( ).,A. earthquake B. volcanic eruption,C. lighting D. fire or explosions,6. Principles of marine cargo insurance include ( ),A. premium B. insurable interest,C. indemnity D. utmost good faith,7. The premium rates may vary depending on factors such as,A. mode of transportation B. type of goods,C. value of the goods D. container or bulk shipment,8. All Risks provide insurance against all risks of loss or damage to the cargo insured except for those damages or losses which are due to ( ).,A. earthquake B. delay C. stranding D. inherent vice,9. Insurance is essentially a contract between two parties, namely ( ),A. the insurer and the insured,B. the importer and the exporter,C. the insurance company and the owner of cargo,D. the insurance broker and the representative acting on,behalf of the owner,10. Partial losses incurred as a result of specific casualties such as ( ) are covered in FPA.,A. burning of the vessel B. lighting,C. stranding D. sinking,11. The basic types of insurance coverage include ( ).,A. FPA B. WPA C. AR D. War Risks,12. ICC(B) covers loss of or damage to cargo caused by ( ).,A. earthquake B. grounding,C. lighting D. fire or explosions,13. All Risks of marine cargo transportation insurance covers risks of ( ),A. war and strike B. general average,C. inherent vice of goods D. stranding of ship,14. Under CIF, if the B/L is issued on July 20th, the insurance policy can be issued on ( ).,A July 10th B July 15th C July 20th D July 21st,15. ( ) are the parties of insurance contract.,A. Insurer B. Insurance broker,C. Insured D. Insurance agent,16. ( ) can be solely covered.,A. FPA B. WPA C. TPND D. All risks,17. ( ) are covered in All risks coverage.,A. war risks B. strike risks,C. rust risks D. shortage risks,18. W/ W Clause is suitable to ( ).,A. FPA B. TPND C. War Risks D. Strike Risks,19. When chose insurance coverage, the insured should consider ( ).,A. the characteristics of the cargo,B. the packing of the cargo,C. the transportation mode and route,D. the port of call,III. True or false.,1. Cargo insurance is a contract of indemnity. ( ),2. Insurance policy is an evidence of insurance contract issued by the insurer to the underwriters. ( ),3. Insurance policy or certificate and endorsement are the main ones used in daily marine cargo insurance business. ( ),4. General average and salvage charges are not covered in FPA coverage.( ),5. All Risk covers risks of war, strike and other special additional risks.( ),6. There is no difference between ICC and PICC clauses. ( ),7. It is unnecessary for a freight forwarder to advise his clients to insure their cargo or to check with them if he is not instructed. ( ),8. Under no circumstance is partial loss or damage recoverable in FPA. ( ),9. War Risks do not cover the goods in transit on the land, neither does the coverage-strikes, riots and civil commotions. ( ),10. All Risks are the most comprehensive type of cover because it covers all kinds of risks. ( ),11. The CIF/CIP value of the goods should be taken as the minimum amount insured.( ),12. R policy is most widely used in the transport of general cargo. ( ),13. FPA is more suitable for bulk cargo, like logs, steel bars, pipes. ( ),15. Partial loss in transshipment operations is included in FPA. ( ),16. Cargo insurance contract is not a contract of indemnity.( ),17. General average and salvage charges are covered both in FPA and WA coverage.( ),18. ICC(C) does not cover risks of war, strike, but covers loss of or damage to cargo caused by earthquake. ( ),19. A contract of marine insurance is a contract based upon the utmost good faith, if the utmost good faith be not observed by either party, the contract may be avoided by the other party. ( ),20. The insured should cover All Risks and general additional,risks. (,),