About This Policy
An Open Policy provides continuous marine cargo protection with a fixed coverage limit, eliminating the need for separate policies for each shipment. It's structured for recurring shippers.
What's Covered
The policy automatically covers all declared transits within the agreed parameters against accidental loss or damage, including collision, overturning, and weather-related risks. Depending on the chosen clause (A/B/C), it may also include theft, pilferage, non-delivery, and handling risks. It’s active until the coverage limit is exhausted or the policy period ends.
Key Features
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Key Features
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Pre-agreed sum insured and shipment limit, Declarations must be submitted regularly, Issued for a period (typically 12 months), Theft, pilferage, handling damage covered based on chosen clauses, Optional: strikes, riots, war, and terrorism for international routes
Who Should Buy?
Exporters/importers with predictable, ongoing transit, Distributors and logistics companies, FMCG and electronics manufacturers with frequent shipments