Cargo Insurance covers loss and/or damage of cargo while it is in transit between the points of origin and final destination. Goods may be transported by sea, air or land.
Differences Between Institute Cargo Clauses (A) and Institute Cargo Clauses (C):
• Institute Cargo Clauses (C) covers very limited risks as a result it is called as a minimum cover cargo insurance policy.
• Institute Cargo Clauses (A) covers wide range of risks as a result it is called as a "All Risks" cargo insurance policy.
• Insurance premium, which should be paid to the insurance company in order to get the insurance policy issued, would be substantially different between these two covers types.
• Institute Cargo Clauses (C) is the cargo insurance policy type which is requested by the Incoterms 2010 rules