National Joint Stock Insurance Company "Oranta" performs cargo insurance, transported by motor, railway, river, marine, air transport, sequentially by several kinds of transport and also when the cargo is in the intermediate storage warehouse.
Cargo insurance is performed on the following terms:
A. liability for all risks according to warnings of Lloyds’ underwriters institute "class A";
B. liability for risks according to warnings of Lloyds’ underwriters institute "class B";
C. liability for risks according to warnings of Lloyds’ underwriters institute "class C";
D. liability for individual risks, chosen by the Insured.
"Oranta" Incorporated accepts for insurance cargos of any kind:
manufactured products (ferrous and non-ferrous metals, metallurgical raw materials, machinery and furnishings, electrical goods and electronics, motor vehicles, products and raw materials of petrochemical industry, textile and garment, furniture, wood, coal, etc);
provisions including refrigerating transportations;
agricultural products;
products and raw materials of pharmacological industry;
precious stones and metals and also products made of them, antiques, artworks, paper currency and securities and other.
Insurance is performed concerning the following transits:
by land transport, including road and rail transits;
by water transport, including sea shipping and carriage on inland waterways;
by air transport;
multimodal transits performed by different kinds of transport.
Sum insured is determined by mutual agreement of parties within the limits of the actual cargo value at the time of concluding of the insurance contract or in accordance with its exceeding in conformity with terms of cargo delivery, and within these limits the value of transit performing, packaging, customs clearance (if any) and expenses of the Insured to reduce losses, caused by insured event, are covered.
Insurance tariff depends on the kind of the cargo and transport facility, used for its transit,transit routes, chosen risks and other insurance conditions and, it is within 0,1 to 0,7% of the Sum insured.
Insurance compensation is paid out within the limits of the Sum insured depending on the amount of direct damage to property, caused to the cargo owner as a result of cargo loss or damage taking into consideration franchise and other conditions of the insurance contract.
