Transport Insurance

The suez canal insurance company undertakes to compensate the insured for all losses or damages incurred to the shipments of goods transported for the benefit of the insured during their voyage , whether by sea , land , air or river accordance with the terms and Conditions of the insurance policies issued for these goods . Types of Transit Insurance Policy:

• Marine or Air Transit Policy

This policy covers the goods according to the conditions issued by the institute of London underwriters (ILU) and approved by the Insurance Federation of Egypt .

- Institute Cargo Clauses (A) all Risks :

This insurance covers all risks of losses or damages to the subject matter insured until arrival to the Final destination ( port or warehouse).

- Institute Cargo Clauses (B):

This insurance covers :

General average sacrifice

Fire or Explosion

Vessel or craft being stranded, grounded, sunk or capsized

Collision or contact of vessel craft or conveyance with any external object

Discharge of cargo at a port of distress

Earthquake, volcanic, eruption or lightning

This insurance covers all risks specified in institute cargo Clauses (B) except ( earthquake volcanic eruption or lighting in addition to all weather factors affecting goods). - Institute War , Strikes, Riots and Civil Commotion Risks

Inland Transit Policy:

This policy coves the goods according to the conditions issued and approved by the insurance federation of Egypt .

- Inland clauses: Covers collision ,over turn, Sinking of the transporting vehicle which results in damage to the goods and fire - Burglary clauses . - Loading & unloading clauses. - Comprehensive inland clauses: Covers inland clauses in addition to dropping of the goods result of the truck tilting without overturning , theft and natural phenomena.