Cargo Insurance

This kind of insurance is designed for owners of goods and cargos shipped by various means of transportation, and enables losses to be compensated, that are related to the damage or loss of cargo regardless of fault by the transporter or the absence thereof.

Pasha Insurance’s cargo insurance contract terms meet modern requirements in the realm of insurance coverage.

 

Pasha Insurance offers the following products in respect of cargo insurance.

• One shot insurance policy. This policy is issued upon application for insurance (it is used in cases of one shipment of various cargos).

• Open cargo insurance policy (contract). It is drawn up in the case of regular shipments on approved routes or at the time of uniform cargo shipments. The general insurance policy simplifies the document circulation for cargo insurance, and the insurance applies to all declared shipping. There are various options for paying the insurance premium as per the general insurance policy.

The following can be insured as per this kind of insurance policy:

Cargo shipped by any means of transportation from any spot of the world to any destination throughout the world.
Transportation costs for delivering cargo to the destination point.

The insurance covers damage and destruction of the cargo, occurred as a result of fortuity and hazards of transportation, theft, robbery assault, war risks, lock-outs, etc., depending on the extent of the insurance coverage.

Subject to compensation are losses caused by damage to or destruction of cargo, costs of saving or repairing damaged cargo, expert assessment costs.

CIVIL LIABILITY INSURANCE OF TRANSPORTER

Civil liability insurance of transporter implies the conclusion of a general contract designed for companies operating in the field of providing services for shipping.

Insurance Protection:

Pasha Insurance develops insurance plans to protect interests of transporters/freight forwarders from lawful claims brought to insured party based on:

• Civil Code of the Azerbaijan Republic;

• Provision of international legal contracts and conventions in the domain of cargo shipment and the provision of freight-forwarding services CMR/Convention on the Contract for International Carriage of Goods by Road, International Air Transport Association;

• Requirements of national legislation in the field of cargo shipments, the provision of freight-forwarding services of the state, on the territory of which these services are provided or the jurisdiction of which is applied when treating the claims, brought before the insured party due to the occurrence of the insured event;

• Terms of any other contract previously agreed upon by the insurer.

Insured risks are:

• Liability for destruction, damage or loss of cargo, failure to provide appropriate integrity of cargo in the case of the collision of vehicles with obstacles and with each other, fires, vehicle turnovers, collapse of bridges, fire or explosion, theft or robbery, assault, breach of temperature.

• Liability for financial losses taking place as a result of delay in cargo delivery, forwarding of cargo to a wrong destination, compensation of consignment payments.

• Reimbursement of customs duties and fees.

• Third party liability in respect of damage caused by cargo to the property and health of third persons.

• Costs of investigation of the circumstances of an event.

• Costs of prevention or mitigation of damage.