What Are The Risks Of Foreign Trade Pportation?

Refers to the loss caused by other risks other than sea risks.

Such losses are not divided into total loss and partial loss according to the extent of losses. They are classified according to the causes of losses, which are used as the basis for underwriting insurance companies.

It is divided into losses caused by general external risks and losses caused by special external risks.

Cost

Maritime risks also incur expenses, mainly including rescue and salvage costs.

The so-called rescue cost refers to the expenses incurred by the insured or his agent or the assignee of the insured in the event of a disaster in the scope of the insurable liability, in order to avoid or reduce losses.

The so-called salvage fee refers to the reward paid by the rescued party after third effective measures have been taken by the insurer or the insured.

Loss

The loss of carriage of goods by sea, also known as Average, refers to the loss of goods caused by marine risks in the course of marine pportation, and the loss also includes the loss of goods in the course of land pportation and inland river pportation.

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Sea loss can be divided into total loss and partial loss according to the degree of loss.

A. total loss

Total loss, also known as total loss, refers to the total loss, total total loss and constructive total loss of the insured goods.

Actual total loss refers to the total loss or deterioration of goods and no longer any commercial value.

Constructive total loss refers to the damage of goods after being subjected to risk, although the actual total loss is not achieved, but the actual total loss is unavoidable, or to avoid the actual total loss and the sum of the cost to continue the delivery of the goods to the land of the day exceeds the insurance value.

Presumption of total loss is determined by the insurer after verification.

B. partial loss

Loss that does not belong to actual total loss and constructive total loss is a partial loss.

According to the cause of loss, it can be classified into general average and particular average.

In the course of marine pportation, ships, goods or other properties are subjected to common risks. In order to relieve common danger, special sacrifices and special payments paid directly by salvage measures which are intended to take reasonable rescue measures are called general average.

After the general average of the ship has occurred, the expenses and sacrifices within the scope of general average may be assessed by the general average, and the relevant beneficiaries (i.e. the ship, the cargo and the freight revenue side) shall be apportioned according to the value of the rescued value, and then claim against the respective insurers.

The factors involved in general average allocation are rather complicated and are usually adjusted by special average adjustment agencies (Adjustment).

No loss of general average, loss of gross loss to total loss is called a particular average.

The loss only involves unilateral loss of interests of ship or cargo owner.

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In accordance with the insurance Ordinance, the total loss and general average loss caused by marine risks are the Underwriters' coverage regardless of the type of insurance.

In case of presumption of total loss, the insured may choose to claim a total loss or partial loss as the goods are not completely lost.

In the event of a total loss, the insured shall submit a notice of abandonment to the insurer.

If the ownership of the residual object is delivered to the insurer, it can be compensated according to the total loss after the insurer has accepted it.

Risk

The insurance industry divides the risk of carriage of goods by sea into marine risks and external risks.

Risk is the cause of loss.

A. maritime risks

Marine risks include natural disasters and accidents.

Natural disasters only refer to bad weather, thunder and lightning, floods, ice drift, earthquakes, tsunamis and other human irresistible disasters, rather than disasters caused by general natural forces.

Accidents, including major accidents such as grounding, reef, sunk, collision, fire, explosion and missing, are obvious marine characteristics.

B. external risks

External risks refer to various risks other than marine risks, which are classified into general external risks and special external risks.

General external risks.

It refers to theft, fragmentation, leakage, contamination, moisture, heat, flavour, rusting, hook damage, short amount, fresh water and so on.

Special external risks mainly refer to the risks caused by military, political and administrative decrees and other causes, resulting in the loss of goods.

Such as war, strike, delivery and rejection.

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The object insured by insurers is the object of insurance.

However, the insured is not the insurance object itself, but the insurer's interest in the insurance object. This interest is called insurance interest.

If the insured does not have an insurable interest in the subject matter of the insurance, the insurance contract shall be invalid.

International cargo insurance, like other insurance, must have insurable interest for the insured object.

This insurable interest is reflected in the ownership and risk liability of the insured object in international freight.

Transactions concluded in the form of FOB, FCA, CFR and CPT shall be borne by the buyer after the goods pass the ship's side.

Once the goods are damaged, the buyer's interest is lost, so the buyer has insurance interest.

Therefore, the buyer will be insured by the insured as the insured, and the insurance contract will only take effect after the goods pass the ship's side.

The buyer does not have an insurable interest before the goods pass the ship's side, so it does not belong to the insurer's coverage of the insurance the buyer has invested.

The paction concluded by CIF and CIP is the seller's contractual obligation. The seller owns the ownership of the goods and, of course, has insurable interest.

The seller will insure against the insurance company, and the insurance contract will take effect after the goods are shipped.