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the insured eventCASCO
Voluntary insurance of marine transport
(Sea and inland transport and other marine transport) (H&M)
Vessel insurance is carried out based on the Voluntary Insurance Rules of Marine Transport (Sea and Inland Transport and Other Marine Transport) of ODO “Insurance Company “FIDEL CK” as per one of the following conditions:
- “Liability for the loss and damage of the vessel” (p. 7.5.1. of the Rules)
- As per the insurance contract concluded on conditions stated hereof, loss is indemnified in case of the total loss of the vessel (actual or constructive) or expenses due to repair of damages to the vessel’s hull, propeller, rudder blade, and also engines, auxiliary machinery, equipment and other devices.
- “Liability only for the total loss of the vessel ”(p. 7.5.2. of the Rules)
- As per the insurance contract, loss is indemnified in case of the total loss of the vessel (actual or constructive).
- “Liability for the loss of the lost freight by the insured vessel within the period of demurrage associated with the insurance event” (p. 7.5.3. of the Rules)
Insurance provides protection against risks as follows:
- Breakdown of machinery, systems, other devices caused by construction and production defects or poor repair service;
- Loss or damage due to adverse weather conditions;
- Loss or damage due to collision of the vessels;
- Damage to the vessel due to mooring;
- Missing of the vessel;
- War risks;
At a Customer's will the insurance contract may be concluded based on one of the Clauses of Institute of London Underwriters