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Terms

Insurance Terms & Conditions

Insurance Terms & Conditions

PLEASE NOTE THAT THE COGOPORT GROUP ENTITIES MERELY CONNECT YOU WITH INSURANCE PARTIES IN RELATION TO YOUR INSURANCE REQUIREMENTS. COGOPORT GROUP ENTITIES DO NOT ACT AS AN INSURANCE AGENT, INSURANCE BROKER, INSURANCE SERVICE PROVIDER OR ANY OTHER INSURANCE INTERMEDIARY OR AN ENTITY UNDER A SIMILAR CONCEPT UNDER ANY APPLICABLE LAW. COGOPORT GROUP SHALL ONLY FACILITATE THE PROVISION OF THE INSURANCE PRODUCTS EITHER DIRECTLY FROM INSURERS OR THROUGH SECURENOW INSURANCE BROKER PRIVATE LIMITED OR SUCH OTHER INSURANCE INTERMEDIARY AS THE COGOPORT GROUP MAY SPECIFY. COGOPORT GROUP DOES NOT ASSUME ANY RESPONSIBILITY IN RELATION TO YOUR INSURANCE REQUIREMENTS AND SHALL NOT BE RESPONSIBLE ANY CLAIMS IN RELATION TO THE INSURANCE PRODUCTS OBTAINED BY YOU. YOU ARE REQUIRED TO DIRECTLY COORDINATE WITH THE RELEVANT ENTITY FOR THE SAME

1.     
Please note that by access to or use of the cargo insurance products and services provided herein (“Insurance Products”), you also agree to be bound by the terms and conditions and policies provided herein (“Insurance T&C”). These Insurance T&Cs shall, subject to the applicable law, govern the terms of Insurance Products bought by you (“Insured”) on the Website. You also agree to be bound by such additional terms and conditions and policies of the Insurer, Insurance Broker and Cogoport Group, including without limitation Cogoport Group`s Privacy Policy, the terms and conditions of SecureNow (a partner Insurance Broker (“Insurance Broker”) of the Cogoport Group) available at [https://securenow.in/terms-of-use/terms-and-conditions], other policies of the Cogoport Group and the rules applicable to each Service.
2.     
These Insurance T&C shall be read in conjunction with the general terms and conditions available at [https://www.cogoport.com/tr-TR/terms-and-conditions] (“General Terms and Conditions”). In case of any conflict or repugnancy between the Insurance T&C and the General Terms and Conditions, the Insurance T&C shall prevail.
3.     
Any capitalised terms used herein but not defined shall have the meaning ascribed to it under the General Terms and Conditions.
4.     
Words and abbreviations, which have, well known technical or trade/commercial meanings are used in the Agreement in accordance with such meanings.
5.     
You represent and warrant that all the information provided by you on the Website to procure the Insurance Products is truthful and accurate and the same shall be shared with the relevant insurer (“Insurer”) and/or the Insurance Broker (as applicable).
6.     
TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE COGOPORT GROUP MAKES NO REPRESENTATION OR WARRANTY (EITHER EXPRESS, IMPLIED OR STATUTORY) ABOUT: THE WEBSITE; THE ACCURACY, VERACITY, TIMELINESS OR CONTENT OF ANY INFORMATION OR DATA CONTAINED ON THE WEBSITE AND ANY OTHER ASSOCIATED WEBSITE; THE ACCURACY, VERACITY, TIMELINESS OR CONTENT OF ANY INFORMATION OR DATA UPLOADED BY YOU; CONTINUED ACCESS TO OR USE OF THE WEBSITE; AVAILABILITY OF THE WEBSITE; BACKUP OR BUSINESS CONTINUITY IN RESPECT OF THE WEBSITE; THE MERCHANTABILITY,ADEQUACY, FITNESS, QUALITY OR SUITABILITY FOR A PARTICULAR PURPOSE OF THE WEBSITE OR INSURANCE PRODUCTS OR INFORMATION ON THE WEBSITE; OR THE WEBSITE OR INFORMATION BEING ERROR OR MALICIOUS CODE FREE, SECURE, CONFIDENTIAL OR PERFORMING AT ANY PARTICULAR STANDARD OR HAVING ANY PARTICULAR FUNCTION.
7.     
Cogoport Group may assign a point of contact to you to provide you information about the details of the Insurance Product, Insurer and/or the Insurance Broker (as applicable) or otherwise assist you.
8.     
Insurance Proposal from the Insurer and Insurance Broker: For the Insurance Products availed through the Website, the Insurer shall provide and the Insurance Broker shall ensure that the Insurer shall provide the Insurance Products as per the following commercials: Name of the Plan: Comprehensive Plan- ITC A Sum Insured: Invoice + 10% Excess/Deductible for each and every loss: 1% of whole consignment value each and every loss
9.     
Cogoport Group shall provide a receipt of the payment made by you for the Insurance Product purchased by you. The original policy document will be mailed to you on your registered email ID by the Insurer or the Insurance Broker.
10.    
The premium that you pay on the Insurance Product is adjusted from an advance premium that may be paid by the Cogoport Group to Insurance Broker / Insurer for faster issuances of policies. This adjustment or collection, is a mere facility of convenience for the benefit of the Customers and will not make the Cogoport Group an insurer or insurance intermediary. You are required to directly coordinate with the Insurance Broker / Insurer in relation to your claims or any issues.
11.     
Perils Covered under the Proposal:The insurance policy shall, subject to the terms of the Insurer and the policy document, may provide coverage for the following losses, as specified by the Insurer:
  • Loading and Unloading
  • Handling Losses
  • Theft & Malicious damage
  • Non-Delivery/Shortage
  • Overturning or Derailment of Land
  • Conveyance
  • Collision
  • Fire or Explosion
  • Earthquake, Volcanic Eruption or lightning while in Transit
  • River or Lake Water entering Cargo
  • Hijack & Piracy
         
You are required to refer to the policy for the specified coverages, exclusions and limitations.
12.        
Any request for cancellation for a policy issued to you may be placed before the transit start date only. Once the transit is started, you cannot place a request for cancellation of your order. If case of a cancellation request by you, Cogoport Group shall redirect your request to the Insurance Broker. If the cancellation request is approved by the Insurer/Insurance Broker and refund is issued by the Insurer/Insurance Broker, then Cogoport Group shall refund the amount received from the Insurer/Insurance Broker directly to your account. You will be notified about the confirmation/approval of the cancellation within 24-72 hours from the receipt of the request for cancellation by the Insurer/Insurance Broker.
13.     
Contact: Any notices, complaints or queries in relation to the Insurance Products or any claims thereof must be directed to: In case of notice to SecureNow Insurance Broker Private Limited:
Registered Office:     C4/4 Safdarjung Dev Area, New Delhi – 110016
Phone Number:     +91 9696683999.
Email Address:    support@securenow.in.
Website:    www.securenow.in
In case of notice to Bajaj Allianz General Insurance Company Limited:
Registered Office:     Bajaj Finserv Building,1st Floor, Behind Weikield IT-Park, Viman Nagar Park, Viman Nagar, Pune – 411014.
Phone number:     1800-209-5858/1800-102-5858.
Email Address:     bagichelp@bajajallianz.co.in.
Website:    www.bajajallianz.com

Coverage clause, Condition and Warranty

Transport Mode:   
AIR
  • Institute Cargo Clauses (Air) (excluding sendings by Post) 01.01.1982 Clause No. ILU CL259
  • Institute Strikes Clauses (Air Cargo) 01.01.1982 Clause No. ILU CL260
  • Not added in Inland transits– Institute War Clauses (Air Cargo) (excluding sendings by Post) 01.01.1982 Clause No. ILU CL 258
  • Institute Cyber Attacks Exclusion Clause 10.11.2003 Clause No. ILU CL380
  • Institute Radioactive Contamination, Chemical, Biological, Bio- chemical and Electromagnetic Weapons Exclusion Clause 10.11.2003 Clause No. ILU CL370
  • Sanction Limitation and Exclusion Clause 11.08.2010 Clause No. JC2010/014
  • Termination of Transit Clause (Terrorism) 23.05.2012 Clause No. JC2001/056
  • Private Carriers Warranty/ Limitation of Liability Clause
  • 9.Important Notice Clause
Transport Mode:   
SEA
  • Institute Cargo Clauses (A) 01.01.1982 Clause No. ILU CL252
  • Not added in Inland transits– Institute War Clauses (Cargo) 01.01.1982 Clause No. ILU CL255
  • Institute Strikes Clauses (Cargo) 01.01.1982 Clause No. ILU CL256
  • Institute Classification Clause 01.01.2001 Clause No. ILU CL354-2001
  • Cargo ISM Endorsement 01.05.1998 Clause No. JC98/019
  • Institute Cyber Attacks Exclusion Clause 10.11.2003 Clause No. ILU CL380
  • Institute Radioactive Contamination, Chemical, Biological, Bio- chemical and Electromagnetic Weapons Exclusion Clause 10.11.2003 Clause No. ILU CL370
  • Sanction Limitation and Exclusion Clause 11.08.2010 Clause No. JC2010/014
  • Termination of Transit Clause (Terrorism) 23.05.2012 Clause No. JC2001/056
  • Private Carriers Warranty/ Limitation of Liability Clause
  • Important Notice Clause
Transport Mode:   
ROAD
  • Inland Transit (Rail or Road) Clause-A (All Risks)
  • Strikes Riots and Civil Commotions Clause (Inland Transit not in conjuction with Ocean Going Voyage)
  • Institute Cyber Attacks Exclusion Clause 10.11.2003 Clause No. ILU CL380
  • Institute Radioactive Contamination, Chemical, Biological, Bio- chemical and Electromagnetic Weapons Exclusion Clause 10.11.2003 Clause No. ILU CL370
  • Sanction Limitation and Exclusion Clause 11.08.2010 Clause No. JC2010/014
  • Termination of Transit Clause (Terrorism) 23.05.2012 Clause No. JC2001/056
  • Private Carriers Warranty/ Limitation of Liability Clause
  • 8.Important Notice Clause

Document to Claim

  1.   Invoice Copy- Incoterms
  2.   Packing list
  3.   Bill of lading / Airway bill
  4.   Damage photos
  5.   Marine insurance certificate
  6.   Shortage /damage certificate
  7.   Customs inspection report
  8.   Mate receipt issued by captain/commanding officer of the vessel in case bill of lading is not issued.
  9.   Cargo Landing remarks report – Air transit
  10.   Invoice Copy
  11.   Lorry Receipt/Goods
  12.   Receipt/Rail Receipt
  13.   FIR copy in case of theft claims
  14.   Shortage certificate /damage
  15.   Weighment slips(loading point, accident site & final destination) – Liquid cargo
  16.   Final Survey report & fee bill – common for all transits
  17.   Bill of entry

Standard conditions to Claim

Every commodity will have there own terms and conditions, it will be mentioned while purchasing insurance

Excess :

The first 0.1% of whole consignment value each and every loss

Specific Condition

Coverage as per Terms of Sale max from the Load Port/Airport/Indian Border onwards only