Marine Insurance in a Nutshell - The 3 Institute Cargo Clauses (ICC)
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- เผยแพร่เมื่อ 8 ก.ย. 2024
- Marine Insurance in a Nutshell returns with your favorite tito! If you've ever wondered if sacrificed cargo is also covered, then you're at the right place! Today, we're talking about the coverages provided by the 3 institute cargo clauses.
Designed mainly for inter-island and ocean marine insurance, these clauses embody the main benefits clients need. And in this video, tito is going to show you around the many benefits you can get from these clauses. Have you ever wondered what distress cargo means? You're going to find out about that here as well!
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Respected Sir,
You have explained beautifully especially port of distress thing, waiting for your more videos on Marine insurance clauses and it’s a request please make whole video in English so that i can better connect with your thoughts, Thank you so much for this video.
Alright! will start sticking to straight english
@@titotalks5494 Thank you so much Sir
That's an amazing way of explaining things.... Thank you so much
thank for summarising, it's very helpful to me. And I enjoy your voice and your accent =)))
Thnkui so much for this wonderful stuff🙏
enjoyed learning this way!! thanks
welcome to the channel! thanks for the feedback! stay tuned for more!
Very informative content 😊 Keep it up!
Nice and clear explanation...love from India..
Fun and informative lecture!
Thankyou so much... make videos on actual marine n fire cases please bro
Excellent Mig..
No because it is part of the standard exclusion. Ordinary loss of weight or volume
i like the way you think! youre really close to the real reason. youte right in the fact that the melting of ice is not covered, but its because of a different exclusion; inherent vice. stay tuned for our video on this unique exclusion!
Ah I see tama inherent vice nga ang mas applicable na exclusion
What are examples of insurable interest sir
How many NOR notice of readiness
Sir how about property and indemnity insurance? At Kung hazardous po ung tinapon? Saan po papasok Ang paglilinis ng Sagar?
Dagat
While you can get P&I (property and indemnity), it may not be offered by all insurances. P&I will pay for cleaning up messes left by hazardous materials like oil spills and chemical spills
Could give us more a clearer explanation regarding what are the coverage after the cargo is unloaded from vessel. Nabasa ko lasi warehouse warehouse daw un coverage ng ICC so my land cover p sya ppunta sa destinations nya
this is an excellent point. usually, when the coverage of icc ends at the warehouse, a different form of marine insurance takes over. thats usually inland marine cargo insurance.
@@titotalks5494 So does it mean na hindi n sya part ng ICC clause? I thought this is warehouse to warehouse cover?
@@joshuaroque4440 youre right. its now part of the truck risk clause.
usually a client would get insurance which covers all of areas of interest. if their cargo travels over both land and sea, they still get one policy. pero that policy will have both an icc clause and truck risk clause. hope that clarifies it for you.
Nasaan na po next video? Hahaha nice content. Learned a lot.
Question.
Kung ang collission is covered sabi mo except water.
So it means ang titanic d naka claim sa insurance since ice berg is a solid form of water?
hi! collision of the ship with other objects is covered except if the ship collides with water. uhhhh... its because the ship is constantly in water kasi. hahahaha
on top of that, ice is treated differently from water. its a unique peril of its own.
Pero ang ice is still water but in a diff state nga lang
@@rodmahinayjr.6280 yes that is right. but its treated differently. interestingly though, nakapag claim ang parent company of the titanic. it was under insured though. the owners of the ship had their claims paid after it sank. it was both tragic and very informative.
Institute cargo clause hindi me bataye
Sir