FNI Myanmar

Product Information

Marine Cargo Insurance

Inland Cargo Marine Insurance

Type of insurance This insurance covers Loss of or Damage to the cargo while being carried aboard a vessel from
  a place to another in Myanmar inland waterways and coastal waters.
Sum Insured Value of the cargo carried (10% of the cargo value can be added)
Duration of the insurance One voyage only
Coverage Total Loss Only
Perils covered Loss of the Cargo due to total loss of the carrying vessel caused by accidental fire, collision 
  with any external object other than water, accidental collision with a motor vehicle or natural disasters.
Additional Cover (1) War risk
  (2) Demurrage risk
Exclusions (1) Losses or Damage which do not comply with the terms and conditions of the Policy.
  (2) Losses caused by loading of goods heavier than the weight allowed.
  (3) Unless war risk premiums were paid, losses caused by war or warlike operations are excluded.

(The Insured shall regard the insured goods as if uninsured and in the event of loss, salvage. Shall be done as soon as possible.)

Land Cargo Insurance

Type of insurance This insurance covers Loss of or Damage to the cargo while being carried in a motor
  vehicle by road from one place to another in Myanmar.
Sum Insured Value of the goods carried
Duration of the insurance One voyage only (from its start up its end)
Coverage Total Loss Only
Perils covered Total Loss of Cargo caused by direct damage attributable to accidental fire, collision 
  with a motor vehicle, mechanical breakdown, collision with an object or natural disasters.
Exclusions (1) Losses or Damage which do not comply with the terms and conditions of the policy.
  (2) Loss and Damage occurring before the prosecution of the voyage and after arrival at the destination.
  (3) All Losses of or damage to the cargo caused by delay during the voyage arising from an element and inherent vice of the cargo.

The cargo owner is entitled to claim the sue and labor charges incurred in trying to minimize the loss by removing the cargo to a safe place in the event of loss.