a) Marine Open Cover (MOC) Policy

This is a continuous policy that is issued to the Assured commencing from an agreed date and remains in force until cancelled. A description of the cargo insured, the maximum upper value limit per shipment and the terms of cover are specified in the policy schedule.

The MOC provides the Assured automatic coverage for all shipments described in the policy schedule up to the limit specified. Shipments outside the description in the policy schedule are not automatically insured, the Assured has to make prior arrangement for such insurance before the commencement of shipment.

Certificates of Insurance are issued for individual shipments and a supply of these Certificates is made to the Assured for them to issue accordingly. This is a legal document. The premium is charged for each shipment based on the terms described in the policy schedule.

The Assured is required to declare periodically (duration to be agreed, usually fortnightly or monthly) full details of each and every shipment made and submit a copy of each Certificate of Insurance issued.

The Assured is duty bound to declare and the Insurer agrees to accept all shipments falling within the scope of the Open Cover even though a loss has occurred prior to the declaration

A MOC should be offered only after careful consideration of the following: 

i) the Assured is engaged in regular import/export or internal trade and hence have a high volume of marine cargo insurance business.

ii) as a general guide, the Assured's annual marine cargo premium should be at least RM100,000/=

iii) the Assured has a good reputation and has a high level of integrity.

These are important factors, as there always a moral hazard of the Assured not declaring all their shipments in order to save on insurance premium.

b) Single Shipment Policy

This is a single voyage policy for a single shipment of cargo from one place to another. Commonly, the insurance attaches from the time the goods leave the shipper's or seller's warehouse or place of storage of the consignor and continues until it reach the Assured's premises or other fmal warehouse at the destination named in the policy. Single shipment policy is suitable for clients who do not have regular shipments and hence, do not have a marine open cover policy with the Company.

c) Annual Policy

This is an Open cover but issued to cover a specific period of time, usually 12 months. A provisional or deposit premium is normally charged based on the estimated annual turnover and is adjusted upon expiry based on actual turnover declared. Alternatively, the premium is debited against monthly declaration received.

The Malaysian Government has allowed a Double Tax Relief Benefit for payments made for Marine Cargo Insurance as part of an effort to reduce the outflow of insurance premiums overseas,  provided such insurance is made from a Malaysian insurance company. This incentive is allowed for both export and import shipments.

A further amount of 100% of the Marine Cargo Insurance premium spent for import and export shipments can be added to the taxable expenses of the Assured.

With this tax incentive the Assured is therefore encouraged to export on ''CIF'' (Cost, Insurance and Freight) basis and import on FOB (Free on Board) or "C & F" (Cost and Freight) basis.

2.1 Type of Sales Contract

a) CIF (Cost Insurance and Freight)

Under such a sales contract, the seller is responsible for all costs of delivering the goods up to the final port of destination.

The risk passes from the seller to the buyer at the port of loading as the cargo crosses the ship's flange or outer rails on loading.

The CIF terms is inclusive of cost, insurance and freight plus a percentage (usually 10%) to cover incidental expenses and/or import duty.

b) C & F (Cost & Freight)

Under such a sales contract, the buyer is responsible to arrange for the insurance. The seller is only responsible for the freight and other charges to deliver the cargo to the port of destination.

Depending on the term of sale, the buyer's interest may commence from the time the cargo leaves the seller's premises or when the cargo crosses the ship's flange or outer rails on loading. The Marine Cargo Insurance commences from the time the buyer assumes an insurable interest.

c) FOB (Free on Board)

Under such a sales contract, the seller is responsible for all costs to deliver the cargo safely on board the ocean going ship and obtain a bill of lading.

The buyer is responsible to arrange for the insurance for the shipment of the cargo to the final destination.

作为减少海外保险费流出努力的一部分，马来西亚政府允许为海上货物保险支付的双重税收减免福利，前提是此类保险是由马来西亚保险公司提供的。 这种激励措施适用于出口和进口货物。

用于进出口货物的海运货物保险费的 100% 的额外金额可以添加到被保险人的应税费用中。

有了这项税收优惠，被保险人因此被鼓励以“CIF”（成本、保险和运费）为基础出口，并以 FOB（船上交货）或“C & F”（成本和运费）为基础进口。

2.1 销售合同类型

a) CIF（成本保险加运费）

根据此类销售合同，卖方负责将货物交付至最终目的港的所有费用。

当货物在装货时越过船的凸缘或外轨时，风险在装货港从卖方转移到买方。

CIF 条款包括成本、保险和运费加上一定百分比（通常为 10%）以支付杂费和/或进口关税。

b) C & F（成本加运费）

根据此类销售合同，买方负责安排保险。 卖方仅负责将货物运至目的港的运费及其他费用。

根据销售条款，买方的利益可能从货物离开卖方场所或货物在装载时越过船舶法兰或外轨时开始计算。 海运货物保险自买方承担可保利益之时起生效。

c) FOB（船上交货）

在这样的销售合同下，卖方负责将货物安全运送到远洋轮船上并取得提单的所有费用。

买方负责安排将货物运至最终目的地的保险。 

The following are the usual type of coverage offered to the Insured 

a) Institute Cargo Clause (ICC) (A) 1.1.82 

b) Institute Cargo Clause (ICC)(B) 1.1.82 

c) Institute Cargo Clause (ICC) (C) 1. 1.82 

For a comparison of the scope of cover between ICC (A), (B) & (C), please see Appendix B -16 (i). 

d) Total Loss Only cover ej Institute Cargo Clauses (Air) [excluding sendings by Post) 

f) For shipments involving frozen meat and food, timber and commodities, the Institute Cargo Clauses have been adapted to their special requirements, for a listing of these special Clauses. please see Appendix B-16 (ii).

以下是提供给被保险人的常见保险类型

a) 协会货物条款 (ICC) (A) 1.1.82

b) 协会货物条款 (ICC)(B) 1.1.82

c) 协会货物条款 (ICC) (C) 1. 1.82

ICC (A)、(B) 和 (C) 的覆盖范围比较，请参见附录 B -16 (i)。

d) 全损仅涵盖 ej Institute 货物条款（空运）[不包括邮寄）

f) 对于涉及冷冻肉类和食品、木材和商品的货物，协会货物条款已根据其特殊要求进行了调整，以列出这些特殊条款。 请参见附录 B-16 (ii)。 

Marine policies may be extended to cover War Risks subject to payment of an additional premium. The War Risks rate is prescribed by the War Risk Rating Committee who issues this from time to time. It must be noted that War Risks cannot be granted for the transit of good whilst on land.

War Risks cover attaches when the goods are loaded on the ocean going vessel and terminates on discharge at the final port or place of discharge or on expiry of 15 days from midnight of the day of arrival of the vessel at the final report of discharge.

在支付额外保费的情况下，海事保单可扩展至承保战争险。 战争风险率由战争风险评级委员会规定，该委员会不时发布此信息。 必须注意的是，在陆地上运输货物不能获得战争险。

战争险承保货物装上远洋船只并在最终卸货港口或卸货地点卸货时终止，或自船舶到达最终卸货报告之日午夜起满 15 天时终止。 

This extension is covers loss or damage to the interest insured caused by strike, locked-out workmen or persons taking part in labour disturbances, riots or civil commotion, act of terrorists or any persons acting from a political motive.

此扩展承保因罢工、停工工人或参与劳工骚乱、暴动或民众骚乱的人员、恐怖分子或任何出于政治动机行事的人员而造成的被保险利益损失或损害 

The basis of the premium rate is mainly based on the type of goods to be insured and whether it is containerized or shipped in conventional method.

As a guide the following premium rate is to be used for marine cargo insurance.

Refer to Appendix 8-16 (iii) attached.

保险费率的基础主要是根据投保货物的种类以及是集装箱运输还是常规方式运输。

作为指南，以下保险费率将用于海运货物保险。

见附件8-16(iii)。 

This involves taking goods off one vessel and loading them into another. In practice, transshipment is normally understood as discharging goods from a vessel at a transshipment port and relocating them onboard another vessel to complete the voyage.

Transshipment operations increase the possibility of losses and/or damages to the goods especially as it involves additional unloading and loading task, therefore an additional premium should be charged as follows:

a) Containerized Shipment 0.025% to 0.050%

b) Conventional Shipment 0.050% to 0.100%

这涉及从一艘船上取下货物并将其装载到另一艘船上。 在实践中，转运通常被理解为在转运港从船舶上卸下货物，并将其转移到另一艘船舶上以完成航程。

转运操作增加了货物丢失和/或损坏的可能性，特别是因为它涉及额外的卸载和装载任务，因此应收取额外费用如下：

a) 集装箱装运 0.025% 至 0.050%

b) 常规装运 0.050% 至 0.100% 

a) Cement

b) Copper wire

c) Cosmetics/ perfumes

d) Electrical goods and electronic appliances (computers, medical equipment etc)

e) Herbs and medicines

f) Inland transit risks where the imported consignment

in respect of the ocean voyage is not insured with the Company

g) Optical equipment/ leses

h) Photographic equipment/ material

i) Sawn timber and plywood

j) Transport companies/ freight forwarders

k) Used plant machinery equipment

• a) 水泥

• b) 铜线

• c) 化妆品/香水

• d) 电气产品和电子设备（电脑、医疗设备等）

• e) 草药和药物

• f) 进口货物的内陆过境风险就远洋航行而言，公司未投保

• g) 光学设备/租赁

• h) 摄影器材/材料

• i)  锯材和胶合板

• j)  运输公司/货运代理

• k) 二手工厂机械设备 

a) Antiques, curios, works of art

b) Animals, birds and reptiles

c) Bulk cargo like oil, coke, coal, fertilizers, ores, pig iron scrap etc.

d) Cigarettes

e) Electronic/Computer Chips

f) Explosive, potentially explosive, poisonous, inflammable cargoes

g) Livestock

h) Offshore shipments i.e. shipments not from or to Malaysia

i) Perishable goods (fruits, vegetables, meat and fish)

j) Towing risks -Single Tow

k) Watches

l) Wines, liquor and spirits

m) Glass, glassware, chinaware, tiles and other breakable/fragile goods

n) Gold, silver and precious metals

a) 古董、古玩、艺术品

b) 动物、鸟类和爬行动物

c) 石油、焦炭、煤炭、化肥、矿石、生铁废料等散货。

d) 香烟

e) 电子/计算机芯片

f) 易爆、潜在爆炸、有毒、易燃货物

g) 牲畜

h) 离岸货物，即不是来自或不来自马来西亚的货物

i) 易腐烂商品（水果、蔬菜、肉类和鱼类）

j) 拖曳风险 - 单拖

k) 手表

l) 葡萄酒、白酒和烈酒

m) 玻璃、玻璃器皿、瓷器、瓷砖和其他易碎/易碎物品

n) 黄金、白银和贵金属 

a) Bloodstock

b) Rejection Risk

c) Containers written as such

d) Stock through-put

e) Jeweler's Block

f) Isolated warehouse or storage risks written as such

g) Business Interruption/ Consequential loss

h) Contingency Risks

i) Confiscation Risks

j) Advance Loss of Profit

k) Fishmeal

l) Cargo carried by : 

i) Wooden vessels older than 15 years and below 100 GRT. 

ii) Motorised wooden sailing boat/ vessel (PLMIKLM).

iii) Iron/Steel vessel older than 30 years

m) Ocean Tows

n) Break-up Tow

0) Marine liability

p) Any insurance of satellites. launch vehicles and/or manor parts thereof

q) Fumigation risk written as such

r) Offshore and onshore energy business

s) Insurance of Cargo transported on pontoons or barges on conditions wider than standard London Institute Clauses 

t) Towing risks -Double Tow.

a) 纯种马

b) 拒绝风险

c) 这样写的容器

d) 库存吞吐量

e) 珠宝商区

f) 隔离仓库或存储风险写成这样

g) 业务中断/间接损失

h) 意外风险

i) 没收风险

j) 预付利润损失

k) 鱼粉

l) 货物由 :

i) 超过 15 年且低于 100 GRT 的木船。

ii) 机动木制帆船/船只 (PLMIKLM)。

iii) 超过 30 年的铁/钢容器

m) 远洋拖船

n) 解体丝束

0) 海上责任

p) 任何卫星保险。 运载火箭和/或其主要部件

q) 如此写的熏蒸风险

r) 海上和陆上能源业务

s) 浮桥或驳船运输货物的保险

在比标准伦敦研究所条款更广泛的条件下

t) 牵引风险 - 双牵引。