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Marine Insurance

Marine Cargo Insurance Policy

We are living in a world of ‘Boundary-less Business’. As you continue to expand the business horizon, you are also increasingly exposed to risks that are associated with transit of goods. Your biggest challenge is to put in place a suitable Risk Management, so that you can confidently move ahead fulfilling your dream of expanding your business horizon.
Solidarity Takaful can help you to successfully overcome these situations and put you firmly in control. With Solidarity Saudi Takaful Marine Cargo Insurance Policy you can safeguard yourself from risks associated with transit of goods. The Policy covers any accidental loss or damage to the cargo described in the Policy schedule whilst in transit between any two points by perils named in institute clauses.
Type of Coverage under Marine Cargo Insurance is determined by the mode of transport and requirements of customers as given below:

Sea / Air / Rail / Road / Courier:

  • Indemnity is provided in terms of standard Institute Cargo Clauses which are in use and accepted the World over.

The widest cover available for different modes of transits:

  • Sea Shipment - Institute Cargo Clause "A"
  • Air Shipments - Institute Cargo Clauses (Air Cargo)
  • Inland Transits - Inland Transit (Rail/Road)
  • Restricted Covers also available in terms of "B" and "C" clauses as suited to particular commodities and provide cover for only major accidents viz.
  • Fire or explosion, sinking, stranding or grounding of vessel, collision of vessels, overturning of land Conveyance etc.
  • The above clauses provide cover of Warehouse to Warehouse basis (i.e. from supplier's warehouse to buyer's warehouse)
  • Cover for War and Strikes, Riot, Civil Commotion risks at reasonable additional premium along with Marine Perils.

Pleasure Craft (Small Hull)

As a proud owner of yacht, power boat or Jet Ski, you require specialized yacht Insurance protection to cover loss or damage to its Hull, Machinery, Accessories, navigation equipments and also Liability for causing damage or loss to third party lives and property.

Our Solidarity Takaful pleasure craft policy provides the most comprehensive cover in terms of institute yacht clauses which insures your yacht against all sea perils and unfortunate accidents at sea. Policy may be extended to include liabilities towards third parties for a specified desired limit (which may be in line with local/government legislation) this cover protects you for your legal liabilities in respect of claims made by third parties for bodily injury and property damage.

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