{"uin":"IRDAN134RP0032V02202223","name":"Marine Cargo Insurance","url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223","insurer":{"slug":"universal-sompo-general-insurance","name":"Universal Sompo General Insurance Company Limited","url":"https://indiainsurances.com/insurer/universal-sompo-general-insurance"},"line":"general","category":"marine","category_name":"Marine and transit","irdai_type":"Main Product","kind":"product","status":"active","approved_on":"2022-09-22","withdrawn_on":null,"summary":"Marine Cargo Insurance covers physical loss or damage to insured goods during transit by sea, post or parcels, rail, road or air under Institute or Inland Transit clauses. It can be issued as Specific voyage Policy, Open Policy or Sales Turnover Policy, with the sum fixed on Agreed Value basis normally with a 10% margin on invoice price.","analysis":{"state":"machine","analysed_at":"2026-10-20 08:24:27.823158+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Specific voyage Policy","Open Policy","Sales Turnover Policy"],"display":"Specific voyage Policy; Open Policy; Sales Turnover Policy","note":null,"quote":"Brief details of the types of policies/ coverage available for covering the cargo during transit are -\n1) Specific voyage Policy: ... 2) Open Policy: ... 3) Sales Turnover Policy:","sources":[{"clause":null,"heading":"Types of Policies","page":3,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-types-of-policies"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"Specific voyage cover commences with the commencement of the specified transit and terminates on arrival of the cargo at destination. Open Policy is issued for one year; Sales Turnover Policy is based on annual sales turnover and adjusted at expiry.","display":"Specific voyage: transit to destination; Open Policy: one year; Sales Turnover Policy: annual turnover with adjustment at expiry","note":null,"quote":"Cover under this policy commences with the commencement of specific transit and terminates on arrival of the cargo at destination as specified in the relevant clause. ... The policy is issued for a period of one year at an initial Sum Insured which can be enhanced during the continuance of the policy. ... Premium is charged on the sales turnover for the year. ➢ At the expiry of the policy, Sum Insured is compared with the actual turnover based on the balance sheet and necessary adjustments made in the policy.","sources":[{"clause":null,"heading":"Types of Policies","page":3,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-types-of-policies"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"Intimate the loss immediately or at the earliest possible on happening of an event.","display":"Immediately/at the earliest possible on happening of an event","note":null,"quote":"In the event of any circumstances likely to give rise to a claim You must:\na) Intimate the loss immediately/at the earliest possible on happening of an event","sources":[{"clause":null,"heading":"Claims Procedure","page":66,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-claims-procedure"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Duly completed Claim form","Copy of First Information Report","Estimate of loss / repairs/claim bill","Invoice/ Bills/Receipts","LR/BL/BE/RR","Fire Brigade Report in respect of fire claims.","Any other details/documents called for a specific loss","Recovery documents: Notice to carrier acknowledged copy, Certificate of facts/ damage certificate, Letter of subrogation on 200 Rs. Non Judicial stamp paper duly notarised.","Report on the action taken against employees involved in an act of infidelity"],"display":"Claim form, FIR, estimate of loss/repairs/claim bill, invoices/bills/receipts, LR/BL/BE/RR, fire brigade report, specific-loss documents, recovery documents and employee action report","note":"The prospectus says the above requirement is only indicative and the precise requirement will be defined by the insurer or deputed surveyor as per the merit of the case.","quote":"The documents normally required to be submitted in the event of a claim are :\na) Duly completed Claim form\nb) Copy of First Information Report\nc) Estimate of loss / repairs/claim bill\nd) Invoice/ Bills/Receipts\ne) LR/BL/BE/RR\nf) Fire Brigade Report in respect of fire claims.\ng) Any other details/documents called for a specific loss\nh) Recovery documents: Notice to carrier acknowledged copy, Certificate of facts/ damage certificate, Letter of subrogation on 200 Rs. Non Judicial stamp paper duly notarised.\ni) Report on the action taken against employees involved in an act of infidelity","sources":[{"clause":null,"heading":"Things are required for intimation of the claim","page":66,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-things-are-required-for-intimation-of-the-claim"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"The insurance company shall settle the claim within 07 working days from the date of last receipt of the claim document.","display":"Within 07 working days from the date of last receipt of the claim document","note":null,"quote":"The Insurance Company shall settle the claim within 07 working days but not later than that from the date of last receipt of the claim document.","sources":[{"clause":null,"heading":"Details of procedure following a claim are as under","page":67,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-details-of-procedure-following-a-claim-are-as-un"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["Willful misconduct","Ordinary leakage/loss in weight or volume, wear and tear","Improper packing","Inherent vice","Delay","Insolvency/financial default of carriers","War, Strike, Riot and Civil Commotion – can be carved back.","Nuclear risks","climatic or atmospheric conditions or extremes of temperature","hijack and any attempt threat","piracy and the operation of like nature","Hook damage","moths, rats and other vermin","mould and Mildew","rejection risk absolutely"],"display":"Willful misconduct; ordinary leakage/loss in weight or volume, wear and tear; improper packing; inherent vice; delay; insolvency/financial default of carriers; war, strike, riot and civil commotion; nuclear risks; climatic or atmospheric conditions; hijack; piracy; hook damage; moths, rats and vermin; mould and mildew; rejection risk","note":"War, Strike, Riot and Civil Commotion are stated as exclusions that can be carved back.","quote":"Major exclusions: The Policy does not cover the following:\n• Willful misconduct\n• Ordinary leakage/loss in weight or volume, wear and tear\n• Improper packing\n• Inherent vice\n• Delay\n• Insolvency/financial default of carriers\n• War, Strike, Riot and Civil Commotion – can be carved back. ... Major Exclusions: The Policy does not cover loss / damage on account of: ➢ Willful misconduct of the insured ➢ Ordinary and inevitable losses ➢ Improper packing ➢ Inherent vice ➢ Insolvency of ship-owner ➢ Delay ➢ Nuclear risks ... The Policy excludes loss or damage on account of climatic or atmospheric conditions or extremes of temperature. ... 40. Hijacking Clause\nExcluding hijack and any attempt threat.\n41. Piracy Exclusion Clause Excluding loss of or damages on account of piracy and the operation of like nature.\n42. Hook Damage Clause Excluding Hook damage ... 53. Moth and Vermin Damage Exclusion Clause\nExcluding loss or damages due to moths, rats and other vermin.\n54. Mould and Mildew Exclusion Clause Excluding loss or damages due to mould and Mildew. ... 71. Rejection Exclusion Clause Excluding rejection risk absolutely.","sources":[{"clause":null,"heading":"PROSPECTUS","page":1,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-prospectus"},{"clause":"7","heading":"Claims experience","page":2,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-7"},{"clause":"12","heading":"Climatic Conditions Clause","page":13,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-12"},{"clause":null,"heading":"LIABLE LIABILITY OF CARRIERS, BAILEES OR OTHER THIRD PARTIES","page":21,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-liable-liability-of-carriers-bailees-or-other-th"},{"clause":"2(b)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-2-b-2"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"For a grievance, write to Customer Service at Universal Sompo General Insurance Co. Ltd. or visit a branch and request to meet the Branch Grievance Redressal Officer. If not satisfied with that decision or no response is received, write or email Customer Service at GRO@universalsompo.com before approaching the Insurance Ombudsman.","display":"First write to Customer Service or meet the Branch GRO; then write/email Customer Service at GRO@universalsompo.com if not satisfied","note":null,"quote":"If You have a grievance about any matter relating to the Policy, or Our decision on any matter, or the claim, you can address Your grievance as follows:\nResolving Issue:\nWrite to :\nCustomer Service Universal Sompo General Insurance Co.Ltd. Unit No. 601 & 602, 6th Floor, Reliable Tech Park, Thane-Belapur Road, Airoli, Navi Mumbai, Maharashtra – 400708 Email: grievance@universalsompo.com For More details, visit – www.universalsompo.com Visit Branch Grievance Redressal Officer (GRO) - Walk into any of our nearest branches and request to meet the GRO. ... In case, the customer is not satisfied with the decision/resolution of the above office or have not received any response, he/she may write or email/mail to:\nCustomer Service Universal Sompo General Insurance Co. Ltd. Unit No. 601 & 602, 6th Floor, Reliable Tech Park, Thane-Belapur Road, Airoli, Navi Mumbai, Maharashtra – 400708 Email ID: GRO@universalsompo.com","sources":[{"clause":null,"heading":"Grievances","page":68,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-grievances"},{"clause":null,"heading":"Grievance Redressal Officer","page":68,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-grievance-redressal-officer"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"perils","label":"What is covered","section":"Cover","meaning":"The events or risks covered.","status":"quote-verified","value":["Stranding , Grounding, Sinking or Capsizing","Overturning or Derailment of Land Conveyance","Collision of Ship or Craft with another Ship or Craft","Contact of Ship, Craft or Conveyance with anything other than Ship or Craft","Discharge of Cargo at Port of Distress","Loss overboard during Loading/Discharge (total loss only).","Fire or Explosion","Malicious Damage","Theft/ Pilferage","General Average Sacrifice","Jettison","Washing Overboard (deck cargo)","Seawater entering Ship, Craft, Hold, Conveyance Container Lift Van or Place of Storage","River or Lake Water entering same"],"display":"Physical loss or damage during transit, with Institute Cargo Clauses A, B and C perils such as stranding, derailment, collision, contact, discharge at port of distress, fire or explosion, jettison, general average sacrifice, theft/pilferage and malicious damage depending on clause","note":"The scope of cover is determined by the Institute Clauses attached to the policy; the table differentiates Institute Cargo Clauses A, B and C.","quote":"This Policy covers physical loss or damage to insured goods during transits by (a) Sea (b) Post or parcels (c) Rail/Road/Air. The scope of cover shall be determined by the Institute Clauses attached to the Policy. ... Stranding , Grounding, Sinking or Capsizing | Yes | Yes | Yes\nOverturning or Derailment of Land | Yes | Yes | Yes\nConveyance\nCollision of Ship or Craft with another Ship or | Yes | Yes | Yes\nCraft\nContact of Ship, Craft or Conveyance with | Yes | Yes | Yes\nanything other than Ship or Craft (excludes Water but not Ice)\nDischarge of Cargo at Port of Distress | Yes | Yes | Yes\nLoss overboard during Loading/Discharge | Yes | Yes | No\n(total loss only).\nFire or Explosion | Yes | Yes | Yes\nMalicious Damage | Yes | No* | No*\nTheft/ Pilferage | Yes | No | No\nGeneral Average Sacrifice | Yes | Yes | Yes\nJettison | Yes | Yes | Yes\nWashing Overboard (deck cargo) | Yes | Yes | No\nWar Risks | No* | No* | No*\nSeawater entering Ship, Craft, Hold, | Yes | Yes | No\nConveyance Container Lift Van or Place of Storage\nRiver or Lake Water entering same | Yes | Yes | No","sources":[{"clause":null,"heading":"INCOTERMS (International commercial terms)","page":4,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-incoterms-international-commercial-terms"}],"law":[]},{"key":"deductible","label":"Deductible or excess","section":"Limits and co-pay","meaning":"Amount of each claim you bear.","status":"not-stated","value":null,"display":null,"note":"No general deductible or excess amount for each claim is stated in the prospectus; some clause-specific deductibles or blank excess placeholders appear for particular extensions.","quote":null,"sources":[],"law":[]},{"key":"cancellation_refund","label":"Cancellation by you","section":"Renewal and rights","meaning":"What you get back if you cancel during the year.","status":"quote-verified","value":"The insured may cancel the policy at any time by written notice, and the insurer will refund the premium for the unexpired part of the policy period on a proportionate basis.","display":"Proportionate refund of premium for the unexpired policy period","note":null,"quote":"a) insured has the right to cancel this policy at any time by giving written notice to the insurer. upon cancellation, insurer will refund that part of the premium (Proportionate basis) which relates to the unexpired part of the policy period.","sources":[{"clause":null,"heading":"Types of Policies","page":3,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-types-of-policies"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64VB","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 8","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 6","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 17","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, IV.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"territory","label":"Where it covers","section":"Overview","meaning":"Geographic area of cover: India only, worldwide, or listed countries. 'As stated in the schedule' is not an answer.","status":"quote-verified","value":"The product covers inland India transits and overseas import/export transits, subject to the applicable transit and Institute clauses.","display":"Inland India and overseas import/export transits","note":"A restricted cover warranty in the prospectus can stop cover at specified ports, airports, Indian borders or listed countries when that warranty is applied.","quote":"Type of transit i.e. Inland / Import / Export ... All Overseas Transits are subject to Institute Cargo Clauses A, B & C given by Institute of London Underwiters. ... Goods (merchandise) dispatched by rail or road from any place in India to any place in India (not in conjunction with an overseas voyage) are subject to Inland Transit (Rail/Road) Clause A,B & C.","sources":[{"clause":"4","heading":null,"page":2,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-4"},{"clause":null,"heading":"INCOTERMS (International commercial terms)","page":4,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-incoterms-international-commercial-terms"}],"law":[]},{"key":"transit_modes","label":"Transit modes","section":"Cover","meaning":"Sea, air, rail, road, courier.","status":"quote-verified","value":["Sea","Post or parcels","Rail","Road","Air","Courier"],"display":"Sea, post or parcels, rail, road, air and courier","note":"Courier is mentioned in the Inland Transit strikes, riots and civil commotions clause.","quote":"This Policy covers physical loss or damage to insured goods during transits by (a) Sea (b) Post or parcels (c) Rail/Road/Air. ... “STRIKES RIOTS AND CIVIL COMMOTIONS CLAUSE” (Inland Transit (including Air and Courier) not in conjunction with Ocean Going Voyage) 2010","sources":[{"clause":null,"heading":"INCOTERMS (International commercial terms)","page":4,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-incoterms-international-commercial-terms"},{"clause":null,"heading":"INLAND TRANSIT CLAUSES","page":9,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-inland-transit-clauses"}],"law":[]},{"key":"basis_of_valuation","label":"Basis of valuation","section":"Cover","meaning":"How goods are valued for a claim.","status":"quote-verified","value":"Marine cargo policies are agreed value policies, but agreed value is not applied for certain cargo or risks. Second hand machinery is settled on depreciated market value, and Duty Insurance is pure indemnity limited to the duty sum insured or actual custom duty paid, whichever is less.","display":"Agreed value; exceptions include depreciated market value for second hand machinery and pure indemnity for duty insurance","note":null,"quote":"Basis of Indemnity:\nMarine cargo policies are agreed value policies. Section 29 of Marine Insurance Act defines valued policy as a policy which specifies the agreed value of the subject-matter insured and further states that in the absence of fraud, the value fixed by the policy is, as between the insurer and assured, conclusive of the insurable value of the subject intended to be insured, whether the loss be total or partial. However, for certain types of cargo / risks, the concept of agreed value is not applied. For second hand machinery, settlement is based on depreciated value (market value). Duty Insurance is based on the concept of Pure Indemnity, whereby the claim settlement is subject to the duty sum insured or actual custom duty paid whichever is less.","sources":[{"clause":null,"heading":"PROSPECTUS","page":1,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-prospectus"}],"law":[]},{"key":"sum_insured_basis","label":"Sum insured basis","section":"Cover","meaning":"How the cover amount is set: market value, reinstatement value, agreed value, IDV.","status":"quote-verified","value":"The sum is fixed on Agreed Value basis, normally with a 10% margin on invoice price for incidental expenses. For Open Policy the initial sum insured can be enhanced during the policy, and for Sales Turnover Policy the sum insured is based on annual sales turnover.","display":"Agreed Value basis, normally 10% margin on invoice price; Open Policy initial sum insured can be enhanced; Sales Turnover Policy based on annual sales turnover","note":null,"quote":"The Sum is fixed on ‘Agreed Value’ basis. Normally with a margin of 10% on invoice price for incidental expenses ... The policy is issued for a period of one year at an initial Sum Insured which can be enhanced during the continuance of the policy. ... Sum Insured is based on the annual Sales Turnover of goods movement under various legs of transit.","sources":[{"clause":null,"heading":"PROSPECTUS","page":1,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-prospectus"},{"clause":null,"heading":"Types of Policies","page":3,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-types-of-policies"}],"law":[]},{"key":"under_insurance","label":"Under-insurance (average) clause","section":"Limits and co-pay","meaning":"If the sum insured is less than the real value, claims are cut in proportion.","status":"quote-verified","value":"If the property covered is of greater value than the sum insured at the time of loss, the insured is considered to be his own insurer for the difference and bears a rateable share of the loss.","display":"Average applies: if value is greater than sum insured, the insured bears a rateable share of the loss","note":null,"quote":"43. Average Clause\nIf the property covered under the policy, shall at the time of loss be collectively of greater value than such sum insured, then the insured shall be considered as being his own insurer for the difference, and shall bear rateable share of the loss accordingly.","sources":[{"clause":null,"heading":"LIABLE LIABILITY OF CARRIERS, BAILEES OR OTHER THIRD PARTIES","page":21,"url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793#c-liable-liability-of-carriers-bailees-or-other-th"}],"law":[]}],"documents":[{"kind":"wording","label":"Marine Cargo Insurance (IRDAI copy)","pages":3,"fetched_at":"2026-10-20 00:44:19+00","source_url":"https://irdai.gov.in/documents/37343/993134/IRDAN134RP0032V01202223.pdf/ea453f74-e240-746c-625f-58f060a05e59?version=1.0&t=1675770028671&download=true","url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/24469"},{"kind":"prospectus","label":"Marine Cargo Insurance - Prospectus / Brochure","pages":72,"fetched_at":"2026-10-17 20:16:28+00","source_url":"https://www.universalsompo.com/assets/file/marine-cargo-insurance/marine-cargo-prospectus.pdf","url":"https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223/document/17793"}],"versions":[{"uin":"IRDAN134RP0032V01202223","version":null,"approved_on":null},{"uin":"IRDAN134RP0032V02202223","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Universal Sompo General Insurance official website","url":"https://www.universalsompo.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims","url":"https://www.universalsompo.com/claims/","note":null},{"purpose":"claim","kind":"insurer","name":"Motor claim intimation","url":"https://www.universalsompo.com/claimintimation/","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://www.universalsompo.com/resourse-grievance-redressal/","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"renew","kind":"insurer","name":"Renew now","url":"https://www.universalsompo.com/renew-now/","note":null}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Marine Cargo Insurance (UIN IRDAN134RP0032V02202223), IndiaInsurances, https://indiainsurances.com/policy/universal-sompo-general-insurance/marine-cargo-insurance-irdan134rp0032v02202223"}