We provide insurance according to international standards, mostly used ICC A (all-risk), but also to a limited extent ICC B or ICC C at the customer’s request. Special clauses of the War Risk (WRCC) and the Strike Risk (SRCC) can be added. All of these options include general average
The liability of carriers in international transport is limited by international conventions. In the event of damage to the shipment, only cover resulting from the following conventions will be paid:
- Haag-Visby Rules = 2.00 SDR (XDR) per gross kilogram of goods or 666.67 SDR (XDR) per unit
- Hamburg Rules = 2.50 SDR (XDR) per gross kilogram of goods or 835.00 SDR (XDR) per unit
Montreal Convention = 22 SDR (XDR) per gross kilogram of goods
We recommend shipment insurance even if the value of the goods does not exceed the stated limits. The recovery of damages by shipping or airline companies is very difficult and unsuccessful in many cases. In the case of enforcement by legal means, it is necessary to turn to foreign courts, which is complicated and expensive.
ICC = Institute Cargo Clauses, published by the Institute of London Underwriters. The Institute Cargo Clauses are three sets of clauses providing different levels of protection: Clause A corresponds to the general term commonly referred to as ‘all risk’ cover, while Clauses B and C refer to a lower level of cover and a greater number of exclusions.
WRCC = War Cargo Clauses
SRCC = StRike Cargo Clauses
GA = General Average = shipowners and cargo owners share the cost of rescuing the ship and cargo with a proportionate amount. In the case of such an event, the uninsured shipment may be released only after the bank guarantee has been lodged. The insured shipments are released immediately and the insurance company ensures the payment.
SDR = Special Drawing Rights (XDR code) is a single currency and an accounting unit used within the International Monetary Fund. The current exchange rate can be found on the Internet, for example, the CNB here.