Import and export business in the insurance work Insurance Tips

Category: Insurance tips Release Date: 2006-08-01

1. Insured. China's export goods, the general approach taken by transaction-insured. By FOB or CFR terms of export turnover of goods, the seller without going through the insurance obligations, but in the performance of the seller prior to delivery of goods from warehouses to ship this period of time, still bear the goods may be subject to the risk of accidental loss, the need to make their own arrangements within a period of time insurance. Terms such as CIF or CIP according to the export turnover of goods, the seller bears the responsibility for insurance should normally be transported in the goods from the warehouse loading dock or stations completed before the insurance procedures. Most of China's imports of goods by appointment with the insurance approach, the professional import and export company or its agent receiving an appointment with the insurance companies have signed an insurance contract in advance (Open Cover). After the signing of the contract, the insurance company bears the responsibility of automated underwriting.

2. Insurance, and insurance to determine the amount of calculation:

1. Insurance amount (Insured Amount). The insurance market in accordance with international practice, the amount of insurance of export goods in general prices of goods according to CIF plus 10% of the calculation, which increases to 10% is called the insurance plus, which is paid by the buyer to conduct this exchange costs and profits of the pre-Si phase . The insurance amount formula is:

Insurance amount = CIF value × (1 + Addition rate)

2. Insurance (Premium). Policyholders to pay premiums according to the agreed manner the conditions for entry into force of the insurance contract. Premium rate (Premium Rate) is an insurance company in a certain period, different types of goods, payment rates, according to the different risk categories and destinations determined. Insurance premium rates are under the table by the insurance payment terms, the formula is: insurance = insurance amount × premium rate. In China's export business, CFR and CIF are the two commonly used terms. In view of insurance is based on CIF value of the insurance based on the amount of calculation, the two terms conversion price shall be the following manner.

CFR converted into CIF price by: CIF = CFR / [1 - premium rate x (1 +-plus rate)]

In the importing business, according to an appointment signed by both parties undertake insurance contracts, insurance and the amount of imported goods according to CIF value terms, without any additional addition and subtraction, the premium rates for "special rate table" provisions of the average rates; if FOB imports of goods, according to the average freight rates have been converted into the value of CFR after calculating the insurance amount, the calculation formula is as follows:

Imports of goods FOB: Insurance Amount = [FOB price x (1 + average freight rate)] / (1 - an average premium rate)

CFR imported goods: Insurance Amount = CFR price / (1 - an average premium rate)

3. Insurance documents. In international trade business, insurance documents commonly used are mainly two forms.

1. Insurance policy (Insurance Policy or Policy0, commonly known as the big insurance policy. It is the insurers and the insured contractual relationship between the formal establishment of the insurance certificate, because insurance is different from other content and form, marine insurance, the most commonly used form of shipping insurance, cargo insurance, freight insurance, ship owner liability insurance and so on. In addition to contain its contents were insured, the insurance subject of (fill in the case of goods specified in paragraph number and logo), transport, insurance different, Termini Location , the insurance period, insurance value and insurance amount of such items, but also the scope of responsibility attached to the relevant insurers and insurance and the insured person's rights and obligations of detailed provisions. If the parties to the insurance policy on the rights and obligations under the need to add or delete, it can in the insurance policy terms or endorsement affixed words. insurance policy is insured to the insurer or the insured person claims an official document of the appeal, but also the main basis for the insurer claims. insurance policy can be transfer, is usually the insured person to the bank, one of Negotiating the document. in the CIF contract, the insurance that the seller must provide the buyer with the documents.

2. Insurance Certificate (Insurance Certificate), commonly known as a small insurance policy. It is the insurer issued to the insured person to prove that goods have been insured and the insurance contracts already in force documents. Certificate, no insurance terms, indicating that the insurer in accordance with a formal insurance policy contained in the term. The insurance certificate has the same effect with the insurance policy, but in the letter of credit submitted to insurance, general insurance policy can not be simplified form.

4. Insurance claims. Means that when the insured person within the responsibility of the goods subject to underwriting the risk of loss, the insured to the insurer claims. In international trade, such as insurance handled by the seller, the seller soon after the delivery of insurance policies endorsed to the buyer or its receiving agent, when the goods have arrived at the port of destination (to) and found defective, the buyer or its agent receiving As the legal assignee insurance policy should be local to the insurer or its agent for compensation. Chinese insurance companies to facilitate the arrival of China's exports of goods inspection promptly after the loss of foreign destinations, local compensation has been in more than 100 countries have established inspection or claims agency. As for the claim of China's imports of goods inspection by the relevant professional import company or its agent at the port commissioned by the receipt or other place of receipt, to the local People's Insurance Company for compensation. The insured person or his agent claims to the insurer, should do the following aspects of work.

1. When the insured person or found that goods have been subjected to the loss within the scope of insurance liability, should promptly notify the insurance company, and as much as possible to retain the site. By the insurer in conjunction with interested parties into the inspection, survey the extent of losses to investigate the cause of the loss to determine the nature of the loss and responsibilities, to take the necessary rescue measures, and issued a joint inspection reports.

2. When the insured goods reach their destination, the insured person or his agent, delivery of goods found obvious signs of damage, the whole bulk goods have been short of, or damage and should report immediately to tally departments and request reasonable proof of defective or short - . Such as the responsibility of cargo damage involves a third person, then first of all responsible parties should a claim or statement the right to claim insurance. To retain the right to claim under the conditions of a third party may apply to the insurance claim. The insured person to obtain insurance compensation, while damage to the goods shall be transferred to the relevant rights and interests of insurance companies, insurance companies in order to replace the status of the insured person or the insured person to a third party on behalf of the responsible party for recovery. Insurers of such rights, called the subrogation right of recovery (The Right of Subrogation).

3. To take reasonable measures to rescue. Insurance of goods damaged, the insured and the insurer has a duty to take all possible and reasonable facilities seeking measures to prevent the loss of the expansion. A result of rescue, to prevent and reduce the loss of goods to pay the reasonable costs, the insurance company for compensation. The insured person can not carry out rescue rescue obligations, the insurer's losses for expanding the right to exclusions or all of the loss.

4. Available evidence with the claim, a claim within the prescribed limitation. Insurance claims should normally be provided by the evidence: the original insurance policy or certificate; transport documents; commercial ticket and the weight of a single, packing list; test declarations; defective, short amount of proof; to the carrier and other third parties responsible party request compensation for correspondence or document; if necessary, need to provide maritime report; claims list, the main setting out the amount of the claim, according to its calculation, as well as the related costs of projects and uses. According to international practice in the insurance industry, insurance claims or litigation of limitation for self-unloading to unload the goods at the last, begins to run from the means of transport up to no more than two years.

5. In terms of negotiating the insurance should pay attention to several issues:

1. Should respect each other's views and demands. In some countries, which imported goods must be for the insurance, these countries have more than 40. Such as North Korea, Burma, Indonesia, Iraq, Pakistan, Ghana, Yemen, Sudan, Syria, Iran, Mexico, Argentina, Brazil, Peru, Somalia, Libya, Jordan, Algeria, Zaire, Nigeria, Ethiopia, Kenya, Gambia, Congo , Mongolia, Romania, Rwanda, Mauritania and so on. Our films in these countries, we should not be set up according to CIF price quote.

2. If foreign guest rooms require us to the articles of association according to the London insurance coverage, we can be affected by room requirements, set in the contract. Insurance Institute of London because the British terms of cargo insurance business in the world have greatly affected the import cargo insurance in many countries have adopted such provisions.

3. The collection mode exchange earnings of the export business should strive for the establishment of price deal with the CIF price conditions in order to reduce the risk of loss. Because in our delivery, and if the damage or loss of goods, the buyer refused to redeem bills, I have insurance company can be responsible for compensation to the buyer's recourse for compensation.