Carg INSURANCE

Get a Quote Now! Marine Cargo Insurance is a complex expanding market and one of Galea Insurance Brokers’ specialist areas. Our flexibility and ingenuity are never more clearly demonstrated then when we are organising Insurance for this class of business. Our experience and expertise has been gained, not only from many years of practical experience, but also making it our business to keep in touch with all developments in the trade.

Galea Insurance Brokers has access to all the leading Insurance Companies in Malta. It can also facilitate international insurance business, such as with Lloyd’s of London and the International Underwriting Association of London. We are thus in a position to obtain the most favourable rates and coverages for our clients. 

Galea Insurance Brokers’ responsibility to you begins with advice, followed by planning of your individual program, negotiation and successful conclusion of a contract with a reliable Insurer. 

The understanding of the complex expanding Marine Insurance Market keeps Galea Insurance Brokers at the forefront of this specialised area of international Trade. Our Independence as an Insurance Broker provides an assurance of impartial advice for obtaining the best possible Insurance protection. Galea Insurance Brokers will specially design a Marine Insurance Cover to suit YOUR needs. 

The following is a summary of covers available. Galea Insurance Brokers provide you with specific conditions depending on the commodity and destinations. The following is not the complete policy terms and conditions but a summary. Cover is subject to the terms, exclusions and conditions of the policy and clauses. 

A. Cover against all risks of loss or damage to the subject-matter insured in terms of Institute Cargo Clauses or Institute Cargo Clauses (Air). 

B. Cover a against loss or damage caused by major perils including:

1. Fire or explosion, vessel or craft being stranded, grounded, sunk or capsized, overturning or derailment of land conveyance, collision or contact of vessel, craft or conveyance with any external object other that water, discharge of cargo at a port of distress, general average sacrifice or jettison, in terms of the institute Cargo Clauses (c) .
2. Crashing or forced landing or aircraft, fire, flood, collision or overturning/ derailment of land conveyance. These covers can be extended to include Institute War Clauses and Institute Strikers Clauses. These covers will also be subject to the following clauses as applicable: Institute Classification Clause. Institute Radioactive Contamination Exclusion Clause. Terrorism Exclusion- Termination of transit Clause.