International_Trade_Practices_Chapter_4_Insurance.pptVIP

Chapter 4 Cargo Insurance Case study Parties to the Insurance Marine Insurance Insurance of Land, Air and Postal Transportation Fundamental Principles of Cargo Insurance Insurance clause Insurance to be effected by the seller on behalf of the buyer for 110% of the invoice value against FPA and War Risks as per Ocean Marine Cargo Clauses of The People’s Insurance Company of China. Parties to the insurance Insurer, Underwriter, the party who promises to indemnify losses or provides service. The insurance company or the individuals who run an insurance firm. Underwriter保险人 Insured, the party who buys insurance from the insurer or the insurance company. The buyer or the seller or the shipping company.被保险人 Insurance broker, the middleman in insurance business. Have an unbiased view over the coverage and premium rates offered.保险经纪人 Claimant, the party who suffers will lodge a claim against the insurance policy索赔人,债权人 Marine Insurance海上运输保险 A contract of insurance whereby the insurance company in return for premiums(保险费) collected undertakes to indemnify the insured in a manner and to the extent thereby agreed, against marine losses, the losses incidental to marine adventure. Types of risks, losses and expenses covered Scope of insurance coverage Procedures of marine insurance Types of risks Risks covered by marine insurance: perils of the sea海上风险: natural calamity自然灾害caused by the forces resulting from the changes of nature, including heavy weather, lightening, earthquake, volcanic eruption, and fortuitous accidents海上意外事故, resulting from unexpected causes, including fire, explosion, vessel being stranded, grounded. extraneous risks外来风险: general extraneous risks一般外来风险 , including theft, pilferage, contamination, leakage, breakage, etc. and special extraneous risks特殊外来风险, including war, strike, failure to deliver. losses and expenses covered( nature, extent, condition) total loss全部损失and partial loss(部分损失) Total loss`: actual total loss实际全损: the complete loss