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POLICIES OF MARINE INSURANCE Voyage policy :- is a policy in which the subject matter is insured for a particular voyage irrespective of the time involved in it. In this case the risk attaches only when the ship starts on the voyage . Time policy :- is a policy in which the subject matter is insured for a definite period of time. The ship may pursue any course it likes, the policy would cover all the risks from perils of the sea for the stated period of time. A time policy cannot be for a period exceeding one year, but it may contain a 'continuation clause'. The 'continuation clause' means that if the voyage is not completed within the specified period, the risk shall be covered until the voyage is completed, or till the arrival of the ship at the port of call . Mixed policy :- is a combination of voyage and time policies and covers the risk during particular voyage for a specified period of time.

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Valued policy :- is a policy in which the value of the subject matter insured is agreed upon between the insurer and the insured and it is specified in the policy itself. Open or Un-valued policy :- is the policy in which the value of the subject matter insured is not specified. Subject to the limit of the sum assured, it leaves the value of the loss to be subsequently ascertained. Floating policy :- is a policy which only mentions the amount for which the insurance is taken out and leaves the name of the ship(s) and other particulars to be defined by subsequent declarations. Such policies are very useful to merchants who regularly despatch goods through ships. Wagering or Honour policy :- is a policy in which the assured has no insurable interest and the underwriter is prepared to dispense with the insurable interest. Such policies are also known as 'Policy Proof of Interest(P.P.I).


MARINE INSURANCE OPEN POLICY Automatic insurance protection for a specific period of time (usually one year). Premium is by deposit (based on an estimate), and adjustable on declaration of actual values of shipments/dispatches Always open until cancelled by either party to the contract Certificates are issued for individual shipments/dispatches

Marine insurance specific policy:

Marine insurance specific policy The Marine Specific policy insures cargo against risks involved in a specific voyage. Marine Insurance Sales Turnover Policy (STOP ) STOP is a designer product for the discerning customer, an Open Policy in the real sense of the term. The premium for the policy is charged only on your sales turnover


TATA AIG Why Tata AIG Marine Cargo Insurance? Global Presence: With AIG’s presence in more than 130 countries we are truly a global network but with local expertise. This local expertise ensures that we are able to guide and issue covers keeping in mind the local regulatory concerns while our worldwide presence ensures that we are perfectly placed to respond swiftly and effectively in dealing with losses as and when they may occur Financial Strength: The combined might of Tata Group and AIG coupled with strong reinsurance treaties ensures that you are in safe hands. MLCE: Specialized products need extra handling. Our Marine Loss Control Engineering (MLCE) can assist you in identifying potential hazards in your supply chain, develop loss prevention guidelines and help you implement loss control and quality improvement programmes . Innovative Yet Simple Products: Sales Turnover Policy, Stock Throughput or the standard Marine Open Policy. We have something for everyone - a small exporter, importer, trader, manufacturer, a SME, a large corporate house or a Multi National Corporation. Flexibility:Our knowledge and expertise allows us to customize policies to suit your needs. Knowledge: We are the only company to have a dedicated team of marine cargo underwriters. Tech Advantage: We are the pioneers of online issuance of marine certificates in India. Our E-marine is a unique and simple tool. Backed by a dedicated helpdesk, Emarine makes 24x7 insurance actually possible


INNOVATIVE MARINE SOLUTION MULTI CARGO TRANSPORT PROGRAM Tata AIG's Multinational Cargo Transport Program is a tailor-made cover for Indian companies whose operations span the globe. Under the program a Master Open Policy is underwritten in India covering the global transit risks of the assured and offering admitted policies in foreign countries as and when required. This policy can cover DIC (Difference in Conditions), movements between subsidiaries along with the coverages offered under a standard open policy. Our local offices along with marine teams located in all major cities will assist you in navigating through local legislation and currency regulations.

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E-MARINE The client can issue Marine Insurance Certificates anytime, anywhere from the comfort of his office/home to meet his business requirements. Any number of users in the client's organization even from different locations can operate e-Marine with distinct user Ids and passwords. The certificates can be viewed at various stages during issuance. Changes, if any, can be made then and there ensuring Quality documentation. As the records get updated simultaneously at our office too, there is no need to submit separate declarations/details of certificates issued. Balance available in the Deposit a/c can be viewed by the client at any point of time facilitating timely replenishments. The unique encryption code on every insurance certificate facilitates verification of its authenticity, by any third party, anywhere in the world by simply logging on to our website and giving the encryption details. Absolutely Free. There is no fee charged for e-Marine usage. Neither is there any need to install additional software. The only requirements are Internet connectivity and Acrobat Reader Version 4 and above.

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MARINE LOSS CONTROL Marine Loss Control Engineering is one of the most important offerings of Tata AIG's Marine policies. It helps get our Assureds' products delivered on time and in undamaged condition to their clients. This avoids loss of market share, products liability claims, and protects the brand integrity of the client. This is achieved by scientific analysis, tailor-made recommendations and cost effective and sellable solutions provided by an experienced and full time dedicated team spread across the globe spanning different time zones. MLCE helps our clients be more profitable by reducing loss frequency and severity and by giving value added service. Provide timely and accurate information on worldwide and regional industry trends, high risk areas, potential hazards and threats. Use of a well identified network of surveyors and security advisors that report under AIG standards Direct contact with the different transport vendors and security providers

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