Insurance Covering Ocean Marine Transportation All Risk (CIC

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sandeep_mt
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Insurance Covering Ocean Marine Transportation All Risk (CIC

Post by sandeep_mt » Mon Dec 09, 2013 1:23 pm

Dear All

lc calls for insurance policy/certificate covering ocean marine transportation all risks (cic) and war risks ,now on the document presented the risk coverage is mentioned as ICC(A).WAR RISK AND SRCC kindly confirm in this case the word ALL RISK is compulsorily to be mentioned on the insurance certificate .

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picant
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Art 28 UCP 600 ISBP 745 K18

Post by picant » Tue Dec 10, 2013 12:28 am

Hi Pal,

I think that ICC (A) insurance will cover any "all risks" insurance documents required in a l/c.
I dont understand cic-please explain.
Other comments appreciated
Ciao

vmduc
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allrisk cic vs icc

Post by vmduc » Tue Dec 10, 2013 11:11 am

Thanks for my beloved Google, I found the cic is the Chinese Insurance Clause which is very popular in Chinese commerce practice. All Risk Clause (CIC) in general is similar to ICC Clause A and exclude War, Riot,... Your insurance document indicated ICC Clause A and SRCC so it covers wider range of risks than requirement in the credit. Hence, in IMO, presented doc is valid.

sandeep_mt
Posts: 52
Joined: Mon Aug 29, 2011 12:13 am
First Name: sandeep
Last Name: mothkuri
Organization: axis bank ltd
Filter: Two Plus Two =: 4

insurance all risk

Post by sandeep_mt » Tue Dec 10, 2013 12:30 pm

Dear Picant

Thanks for your reply . ''CIC'' I think its a typographical error error on the document.

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