Category: Insurance tips Release Date: 2006-08-01
China's current shipping insurance is divided into a total loss insurance and All Risks. The two sides agreed under the insurance of other risks, insurance companies, insurance policies set out in accordance with the content and underwriting conditions, respectively, bear the corresponding liability insurance.
Where the insured vessel insurance total loss insurance, insurance for the following causes a total loss occurs to a ship (including the actual total loss and the constructive total loss), the insurance company is liable for: 1, 8 or more (including 8) high winds, floods, earthquakes, tsunamis, lightning, cliff collapse, landslides, mudslides, icicle; 2, fires, explosions; 3, collision, touch; 4, stranding, running aground; 5, due to the above-mentioned 1-4 paragraph disasters or accidents arising from capsizing, sinking ; 6, the ship disappeared.
Where the insured ship all the insurance risk because of occurrence of the above listed in the total loss of Article 1-6 of the reasons and the following reasons, resulting in the insurance total loss occurs to a ship or part of the loss as well as the following responsibilities and costs arising from the insurance company is liable for: 1, collision, touch responsibility: the collision of ships in the navigable waters of other ships or touch the terminals, port facilities, aids to navigation, resulting in the above-mentioned objects, the direct losses and expenses occur, including the collision of the cargo ship direct loss. But the insurance company for each collision, liability is only responsible for the amount of compensation to touch 3 / 4, and in the insurance period, one or a cumulative maximum compensation shall not exceed the amount of shipping insurance is limited. For this ship is on the loss of goods, liable. In addition, non-motorized vessels live collision, touch responsibility, but the insurance ship insurance, underwritten by the towing tug, the ship can be regarded as motor. 2, general average, salvage and rescue. All the risks responsible for compensation in accordance with relevant national laws or regulations should have insurance, general average vessels share a common negative. Relief and rescue refers to the ship in the event of insurance, accident insurance when the insured person to prevent or reduce the loss of rescue and relief measures taken to pay the necessary and reasonable costs of rescue or rescue, aid reward. But the general average, rescue or rescue expenses, and three of the maximum compensation amount not to exceed the insurance limit.
