Професионална програма

Insurance is provided for cargoes which are subject to import, export, re-export or transportation on the territory of the Republic of Bulgaria (regardless of the type of vehicle) against loss/damage, or costs as a result of occurrence of insured event. The Cargo insurance is concluded in compliance with the acting London Institute Cargo Clauses – ICC ‘A’ /total/, ICC ‘B’ /partial/, ICC ‘C’ /basic/.

The Cargo insurance is an extremely interesting, complex and dynamic product, which requires a good knowledge of mathematics and law, combined with the necessary practical experience. Some of the factors that we must consider in our selection of an insurer and a product are:

• Does the company have the best know-how on the cargo insurance market?
• Presence on the Bulgarian and international market
• With which international organizations does the company work?
• What franchises does it use – conditional or unconditional?
• Regime of concluding and servicing of single and subscription policies
• Terms and bodies responsible for the notification in Bulgaria and abroad
• Which are the necessary documents and which are the competent bodies for issuing them in case of insured event?

Before taking down a Cargo policy we must analyze the factors which are important for the risk bearing. There are 2 types of policies – single and subscription policies. The single policy is for single-voyage shipping. The subscription policy presumes regular or seasonal shipping for a calendar year. The advantages of the subscription policy are:

1. Automatic, continuous and full insurance protection
2. Simplified insurance method
3. Preliminary agreement on the insurance conditions
4. Preliminary risk-bearing on the part of the insurer
5. Preferential prices
6. Simplified and convenient scheme for insurance premium payment

According to the client’s wishes, the freight, the transport costs and 10% of the expected profit can be added to each cargo.

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