(a) Marine Cargo: This policy provides an all risks cover for goods imported whilst in transit from the port of shipment to the port of discharge and thereafter to the final warehouse subject to policy exceptions.

(b) Marine Hull Insurance covers loss or damage to hull and machinery. The hull is the structure of the vessel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature system such as boiler, engine, cooler and electricity generator.

Scope of Cover

Institute Time Clauses

These are the main clauses and most important in Marine Hull policies. Time Clauses covers for a specific period usually 12 months. As the nature and degree of risks which the Insurer run vary according to the kind of vessel, there exist a number of categories in the Time Clauses.
They are: -
Institute Time Clauses (Hull)
Institute Time Clauses (FPA)
Institute Time Clauses (Total Loss Only)