全英实务PPT(8)

1、Chapter 8 Cargo Transport Insurance,Key points:,Basic concepts: insurer, insured, underwriter, applicant. Risks: Perils of the Sea 2. or 60 days after unloading.,返回目录,b. Additional risks (attached risks),These kinds of risks cant be covered independently; they shall be underwritten depending on one

2、of the basic risks. 1). General additional risks (11 conditions) 2). Special additional risks (8 conditions),1) General additional risks 11 general conditions to be covered by All Risks,1. Clash & breakage / 碰损破碎险 2. Taint of odor / 串味险 3. Fresh water &/or rain damage / 淡水雨林险 4. T.P.N.D. Theft, pilf

3、erage and non-delivery / 偷窃、提货不着险 5. Shortage / 短量险 6. Leakage / 滲漏险 7. Intermixture & contamination / 混杂玷污险 8. Hook damage / 钩损险 9. Sweat and heating / 受潮受热险 10. Rust / 锈损险 11. Breakage of packing / 包装破碎险,2) Special additional risks 9 special conditions,Besides All risks, the following risks should

4、 be bought in addition: 1. War risks / 战争险 direct loss only on board of ship or lighter, but not for loss of atom bomb. 2. Strike risks / 罢工险 direct loss & general average of it 3. Aflatoxin / 黄曲霉素险 4. Failure to deliver / 交货不到险 no delivery after 6 months 5. On deck risks / 舱面险 6. Import duty risk/

5、进口关税险 total duty for damaged goods. 7. Rejection risk/ 拒收险 rejected by importing government F.R.E.C.(Fire Risk Extension Clause at hong Kong) / 港澳存仓险火险扩展条款 9. Pirate risks / 海盗险,Calculation of insured amount,Rate of Insured Addition: CIF or CIP x 10% Insured amount = CIF (or CIP) x (1+10%) If it is

6、an import consignment under FOB term: Insured amount = FOB (or FCA) x (1+ transport rate + insured rate) If consignment price and freight is given (CFR or CPT): CIF(CIP) = CFR (or CPT) / 1 -【Insured rate x (1+10%)】 Premium = CIF (or CIP) x (1+10%) x Premium rate,Exercises,Shanghai-VW Auto Joint vent

7、ure will export cars to Aden Yemen under CIF term. The sales contract says as following: Insurance: To be covered by the seller for 110% of total invoice value against All Risks, War risks and pirate risks. The invoice value is EUR1,500,000 CIF Aden the rate of All Risks is 0.8%, the rate of War ris

8、ks is 0.13%, and the pirate rate is 0.5%. Pls calculate the insured amount and the premium. If the pirate rate is increased to 5%, how much is the premium?,Insured amount = CIF (CIP) x (1+10%) Premium = CIF (CIP) x 110% x Premium rate,Insured amount = EUR1,500,000 x (1+10%) = EUR1,650,000 Premium =

9、Insured amount x Premium rate =1,650,000 x (0.8% + 0.13% + 0.5%) =1,650,000 x 1.43% = EUR23,595 If pirate rate is changed to 5%: New premium =1,650,000 x (0.8%+0.13%+5%) =1,650,000 x 5.93% = EUR97,845,Ways to make the insurance clause,保险由卖方按发票金额的0.4%投保平安险（水渍险/一切险）, 以中国人民保险公司2008年11月的有关海洋运输货物保险条款为准。

10、Insurance: To be covered by the seller for 0.4% of total invoice value against F.P.A.(W.P.A. / All Risks), as per and subject to the relevant ocean marine cargo clauses of Peoples Insurance Company of China, dated Nov. 2011. Additional risks 附加险条款举例： 加保战争险，费率0.03%；短量险，费率0.02%, 短量免赔率0.5%. Including W

11、ar Risks for 0.03% and shortage of weight for 0.02% in excess of 0.5%.,Summary :,Concepts about insurance Perils of the sea & Extraneous risks Total loss: Actual Total Loss & Constructive Total Loss Partial loss: General Average & Particular Average 3 Basic Risks of CIC: F.P.A., W.P.A., All risks 11

12、 General additional risks & 9 Special additional risks of CIC Calculation of insured amount and premium How to make the insurance clause,I. Single choice questions. 1. The person who enters into an insurance contract with insurer is called ( ) A. the insured B. underwriter C. broker D. agent 2. Usua

13、lly the minimum amount insured should be the CIF value of the goods plus ( ) A. 40% B. 30% C. 20% D.10% 3. Which of the following risks is not covered in FPA coverage? ( ) A. general average B. fire C. salvage charges D. war 4. Which of the following risks is not covered in All Risks coverage? ( ) A

14、. natural calamities B. strike C. fire D. collision,5. Which of the following coverage does not cover partial loss or damage resulting from natural calamities? ( ) A. W.P.A. B. F.P.A. C. All risks D. Institute Cargo Clause 6. Damage to cargoes unavoidably incurred in the course of fire-fighting oper

15、ations can be regarded as ( ). A. particular average B. general average C. partial loss D. total loss 7. The term cargo insurance applies to ( ) transportation. A. marine B. air C. land D. all of the three,8. The ( ) refers to the person who pays the premium. A. insurer B. insured C. freight forward

16、er D. insurance broker 9. “Particular Average” is described in the policy as “fortuitous ( ) loss”. A. partial B. total C. intentional D. accidental 10. FPA provides a more limited cover than WPA since it does not include ( ) losses and damages from natural calamities. A. partial B. total C. general

17、 D. accidental,11. FPA is not suitable for ( ) cargo, which can suffer losses or damage by pilferage or breakage of contents. A. bulk B. unpacked C. general D. common 12. WA means with “( )” both from “General Average” and “Particular Average”. A. partial loss B. total loss C. average loss D. averag

18、e 13. War risks differ from strikes, riots or civil commotion in that it excludes the goods in transit ( ). A. by sea B. by air C. on the land D. by inland waterway,14. War Risks are added to the ( ) insurance cover. A. general B. particular C. average D. main 15. FPA ( ) contribution to General Ave

19、rage. A. is excluded B. is included C. excludes D. includes 16. Which of the following risks are covered by the All Risks coverage of PICC Ocean Marine Cargo Clauses. ( ) A. War and Fire B. Strike and delay C. Aflatoxin and on deck D Heavy weather and fire,17. Which of the following coverage does no

20、t cover partial loss of damage resulting from natural calamities. ( ) A. WPA B. FPA C. ICC(B) D. ICC(A) 18. ( ) defined as loss arising in the consequence of extraordinary and intentional sacrifice made, or expense incurred, for the common safety to the ship and cargo. A. Particular average B. Gener

21、al average C. Without average D. With average 19. Which of the following risks is not covered by the All Risks coverage of marine cargo transportation insurance ( ). A. delay B. flood C. lighting D. heavy weather,20. The general guiding rate of the insurance premium is ( ) of the amount insured. A.

22、0.5% B. 1% C. 2% D. 10% 21. In international trade, the insured amount is often the ( ) value of the consignment plus 10%. A. FOB B. CFR C. CIF D. DDU 22. W/W clause is the liabilities commencement and termination period of ( ) A. carrier B. shipper C. consignee D. insurance,II. Multiple choice ques

23、tion (choose at least two answers which are correct in the followings). Which of the following principles are applicable to marine cargo insurance? A. insurance interest B. utmost good faith C. indemnity D. all risks 2. Which of the following risks are covered in All Risk coverage? A. war risks B. s

24、trike risks C. rust risks D. shortage risks,3. The premium rates may vary depending on factors such as ( ) A. type of goods B. value of the goods C. mode of transportation D. type of risks covered 4. Which of the following risks belong to the general additional risks.( ) A. FPA B. WPA C. leakage ris

25、ks D. intermixture and contamination risks 5. Institute Cargo Clause (B) covers loss or damage to cargo caused by ( ). A. earthquake B. volcanic eruption C. lighting D. fire or explosions,6. Principles of marine cargo insurance include ( ) A. premium B. insurable interest C. indemnity D. utmost good

26、 faith 7. The premium rates may vary depending on factors such as A. mode of transportation B. type of goods C. value of the goods D. container or bulk shipment 8. All Risks provide insurance against all risks of loss or damage to the cargo insured except for those damages or losses which are due to

27、 ( ). A. earthquake B. delay C. stranding D. inherent vice,9. Insurance is essentially a contract between two parties, namely ( ) A. the insurer and the insured B. the importer and the exporter C. the insurance company and the owner of cargo D. the insurance broker and the representative acting on b

28、ehalf of the owner 10. Partial losses incurred as a result of specific casualties such as ( ) are covered in FPA. A. burning of the vessel B. lighting C. stranding D. sinking 11. The basic types of insurance coverage include ( ). A. FPA B. WPA C. AR D. War Risks,12. ICC(B) covers loss of or damage t

29、o cargo caused by ( ). A. earthquake B. grounding C. lighting D. fire or explosions 13. All Risks of marine cargo transportation insurance covers risks of ( ) A. war and strike B. general average C. inherent vice of goods D. stranding of ship 14. Under CIF, if the B/L is issued on July 20th, the ins

30、urance policy can be issued on ( ). A July 10th B July 15th C July 20th D July 21st,15. ( ) are the parties of insurance contract. A. Insurer B. Insurance broker C. Insured D. Insurance agent 16. ( ) can be solely covered. A. FPA B. WPA C. TPND D. All risks,17. ( ) are covered in All risks coverage.

31、 A. war risks B. strike risks C. rust risks D. shortage risks 18. W/ W Clause is suitable to ( ). A. FPA B. TPND C. War Risks D. Strike Risks 19. When chose insurance coverage, the insured should consider ( ). A. the characteristics of the cargo B. the packing of the cargo C. the transportation mode

32、 and route D. the port of call,III. True or false. 1. Cargo insurance is a contract of indemnity. ( ) 2. Insurance policy is an evidence of insurance contract issued by the insurer to the underwriters. ( ) 3. Insurance policy or certificate and endorsement are the main ones used in daily marine carg

33、o insurance business. ( ) 4. General average and salvage charges are not covered in FPA coverage.( ),5. All Risk covers risks of war, strike and other special additional risks.( ) 6. There is no difference between ICC and PICC clauses. ( ) 7. It is unnecessary for a freight forwarder to advise his clients to insure their cargo or to check with them if he is not instructed. ( ),8. Under no circ