CARGO insurance

Transport of goods and other cargoes can incur material losses. Various circumstances may cause damage, loss and even destruction of cargo or a part thereof. CARGO insurance may protect property interests from unforeseen factors that occurred during transport. This insurance coverage may cover any kinds of transported cargoes all over the world.

Depending on frequency of transport, specialists of DV GROUP offer to use the policy of one-time cargo shipment or to purchase a general cargo insurance policy. The policy for one-time cargo shipment is issued only for a specific transport of cargoes from one location to another. Such insurance policy is used most often.

Possibilities of the general insurance policy are used for regular cargo transport on agreed routes and for transport of homogeneous cargoes. Such insurance agreement highly simplifies the cargo insurance document flow, extending to all types of declared shipments. The general policy provides for several options of payment for the insurance premium.

Specialists of DV GROUP offer all three types of insurance coverage CARGO:

A: ‘WITH LIABILITY FOR ALL RISKS’ 
This insurance coverage compensates for the losses resulted from partial damage or complete destruction of cargo or its component for any reasons.

В: ‘WITH LIABILITY FOR PRIVATE ACCIDENT’
This insurance coverage compensates for losses occurred due to:

- fire, explosion, natural disasters, lightning hit;
- collisions or crashes of trains, ships, aircraft and other vehicles;
- impacts with floating or stationary items;
- flooding of cargo with overboard water;
- grounding of ship with cargo;
- damage to the ship caused by ice;
- flushing cargo from the ship;
- emergency discharge of cargo from aircraft;
- aircraft crashes, including unsuccessful landings due to bad weather conditions;
- disappearance of transport means without a trace;
- collapse of bridge structure while truck is on the way;
- damage of cargo due to measures taken to extinguish fire;
- collapse of roof over storage facility;
- loading, unloading or stowage of cargoes.

C: ‘WITHOUT LIABILITY FOR DAMAGES, EXCLUDING CASES OF ACCIDENT’

In this case, losses are compensated provided only the entire cargo or any part thereof was completely destroyed. However, compensation is granted only when the event is a consequence of the causes specified in the coverage ‘With liability for private accident’.

The amount of the insured sum is determined by mutual agreement between the customer and the representation office of DV GROUP. It cannot exceed the actual value of the cargo calculated according to the contract value, transport costs, delivery conditions, customs clearance costs and some other mandatory expenses, or without taking them into account.

The amount of insurance tariff depends on the features of the forthcoming transport, such as:
- features of cargo and its packaging;
- insurance conditions;
- transport route;
- cost of cargo;
- presence of overloads;
- volume of transport;
- amount of franchise;
- cargo escorting and guard;
- some other factors.

DV GROUP is ready to consider the possibility of additional reduction of tariffs, if the customer:
- has positive statistics on previous transports;
- is ready to conclude a general agreement for regular transports;
- needs an impressive volume of transports;
- takes or is ready to take measures aimed at preventing occurrence of insured events.

Insurance of liability of motor carriers and forwardes (CMR)

Insurance of liability of carriers provides insurance protection to the companies that transport and escort cargoes. The subject of insurance coverage in this case is the property interests of the insured, inextricably linked with performance by them of the obligations under the contract of transport and freight forwarding.

The insurance coverage of liability of carriers and forwarders covers:

1. Liability for loss of cargo, its destruction or damage caused by:
- road accidents and hazards during transport;
- non-compliance with the rules of cargo transport;
- overturning of vehicles;
- explosion or fire;
- collapse of bridges;
- accidents during loading, unloading or reloading;
- illegal actions caused by third parties.

2. Liability for losses and financial expenses caused by:
- transmission of cargo contrary to instructions on delay of delivery;
- overdue delivery of cargo;
- incorrect sending of cargo;
- incorrect filling in transport documents.

3. Liability to third parties who have suffered damage by the transported or stored goods, if the damage was caused by:
- destruction or damage of the property of third party;
- traumas, death, injury or illness of third parties.

Liability of insurer begins from the moment the insured accepts the cargo for shipment or transport, and lasts until transmission of the cargo to the recipient. Such insurance agreement is usually concluded for one year. The amounts of the insurance premium can vary in a fairly large range, and depend on the range of transported cargoes, used types of transport, geography of transport, liability limits and a number of other factors.

Green card

‘Green Card’ is a motor vehicle liability policy, which allows covering damage to the opposite party, caused by a road accident. The policy is a certificate of car owner's liability insurance for damage to life, health and property of other accident participants. The ‘Green Card’ is valid only outside the state where it was issued. In fact, this document is the equivalent of third party liability insurance (OSAGO) issued in the country of visit. In addition, absence in many European countries of the ‘Green Card’ is a cause of serious sanctions, even arrest of driver.

In the Republic of Moldova, three types of ‘Green Card’ can be purchased, depending on the zone of its action:
Zone I: Ukraine and the Republic of Belarus;
Zone II: Ukraine, the Republic of Belarus and Russia;
Zone III: All states that joined the ‘Green Card‘ system.
For example, if the upcoming trip will take place only on the territory of Ukraine and the Republic of Belarus, it is possible to purchase a policy for zone I, which has a lower cost

Limits of liability are established in accordance with the laws of the country on whose territory the insured event occurred. The road accident must be certified in the local authorities of the host country, and the necessary documents shall be signed. The amount of insurance payment depends on the geographical area requiring a ‘Green Card‘, and also on the type of vehicle. The weight-bearing capacity, insurance period, number of transported persons and a number of other factors are important.

The insured should carefully handle the ‘Green Card‘ policy, as if it is damaged, lost or stolen, duplicate policies are not issued, and the insurance company ceases to be liable for damages.

The insured may return the ‘Green Card’ to the insurer providing a well-documented confirmation of cancellation of the forthcoming trip. The ’Green Card’ may be returned only until the date of its entry into force.