《国际商贸》英语Chapter 12 Cargo Transportation Insurance.ppt

Insurance Clauses Under FOB, CFR or CIF trade terms, the contract insurance clauses may be stipulated as follows: Insurance to be effected by the buyer; Insurance to be effected by the seller on behalf of the buyer for 110% of the invoice value against FPA (WPA or All risks) and war risk as per Ocean Marine Cargo Clauses of The People’s Insurance Company of China. 12.7 Types of Insurance Document Broadly speaking, insurance document can be divided according to two criteria. According to the way to determine the maturity： time policy, voyage policy and mixed policy. According to whether the insured value is specified ： unvalued policy、 valued policy Unvalued Policy An unvalued policy does not specify the insured value and the value is to be determined by a certain percentage based on the market value on the cargo’s arrival at its destination. Valued Policy A valued policy means that the insured value for the goods is clearly stated at the time when the policy is established. A valued policy may take the following forms: Insurance policy Insurance certificate Combined certificate Open policy * Chapter 12 Cargo Transportation Insurance 12.1 Perils and Losses 12.2 Marine Insurance Clause 12.3 London Insurance Institute Cargo Clauses 12.4 Contents of the Insurance Document 12.5 Insurance Claim 12.6 Marine Insurance Business in China and Insurance Clause in the Contract 12.7 Types of Insurance Document 12.1 Perils and Losses Perils： Definition: Perils refer to risks, which occur at sea, or at the place where the ocean and land, or the ocean and the inland river, or the ocean and lighter are connected. Perils are mainly divided into two kinds: general perils of the sea and extraneous risks. General Perils of the Sea： Natural calamities: caused by the forces resulting from the changes of nature, e.g., vile weather, thunder, lightning, tsunami, earth