Rule 2.23: Mandatory Application of Marine Insurance Charges


Publication Date: 05/19/2008

Effective Date: 05/20/2008

Through Date:

Expiration Date:

Amendment Code: C

Special Use Number:

Request #: RICSPOH68 Revision: Revision 1



Rule 2.23 Mandatory Application of Marine Insurance Charges


Rates and charges do NOT include Cargo Insurance.

Cargo moving under Carrier's bill of lading will automatically be insured under Carrier's open policy unless written instructions declining such coverage are provided to the Carrier prior to the established documentation cut-off times.

Insurance premiums are calculated, in part, on invoice value of the cargo. Should shipper not provide the invoice value of the cargo at the time of shipment, then the Carrier shall base the invoice value on an established valuation formula as determined by the commodity. Certain commodities are excluded from coverage. A copy of insurance rates, valuation formula and exceptions can be obtained from the Carrier.

Household goods and personal effects are covered Free of Particular Average, only upon Customer signing Letter of acceptance.

Carrier's open policy through Seven Seas Insurance Co., Inc. is available to interested parties for inspection of terms and conditions of coverage at Carrier's facility at 5 East 11th Street, Riviera Beach, FL 33404-6902, or its nominated agency.