Specific Marine Insurance

Specific marine insurance, also known as Single Transit Insurance, covers goods or cargo for one particular journey or voyage, from its point of origin to its final destination, across any transport mode (sea, air, land). It provides financial protection for potential losses due to perils like fire, theft, collision, and natural disasters, and is taken out before the trip begins, ceasing once delivery is complete.

"Specific marine insurance," also known as a Specific Voyage or Single Transit policy”

What Types of Coverage Can Be Used?

Policies rely on different sets of clauses depending on where and how the goods move:

Clause - Where It Is Used
Institute Cargo Clauses (ICC) -International shipments by air or sea
Inland Transit Clauses (ITC) -Movements within one country by road, rail, air, or inland water routes

Institute Cargo Clauses — Explained Clearly

ICC (A) — Broad / “All Risks” Style Cover

This option protects against almost every accidental cause of loss unless something is specifically excluded. Things such as deliberate acts, natural deterioration, poor packing, or war/strike risks are normally excluded unless added separately.

ICC (B) — Mid-Level Cover

This clause protects only listed dangers, for example:

fire or explosion
capsizing, sinking, or grounding
collision with another vessel or object
unloading at a port of distress
natural events like earthquakes, lightning, or volcanic eruptions
jettison and general average
entry of sea, lake, or river water into the hold

It offers more protection than Clause C, but less than Clause A.

ICC (C) — Basic Protection Only

Clause C limits cover to major incidents such as fire, explosion, collision, stranding, sinking, jettison, and general-average sacrifice.
It is the minimum form of marine cargo protection.

Your Details

What Does This Policy Cover?

Fire, lightning, explosions
Overturning or derailment during land transport
Earthquakes or volcanic activity
Collisions involving the carrying vehicle
Damage while loading, unloading, or handling cargo
Water entering the cargo space
Theft, malicious acts, or hijacking
Short delivery or non-delivery of goods

What Is Not Covered?

Loss caused intentionally by the insured
Natural shrinking, wear, or gradual deterioration
Improper or weak packaging
Financial loss caused only by delay, even if a covered incident occurs

Who Benefits From This Policy?

Importers / Exporters moving cargo under trade terms like CIF
Manufacturers and merchants transporting raw materials or finished products
Ship owners and operators (when combined with other covers)
Freight forwarders and logistics companies responsible for customer cargo
Shipyards and repairers dealing with vessels under construction or repair

Why Choose Specific Marine Insurance?

Every shipment faces different risks — route, climate, handling, and transport mode can all vary. A specific policy lets you design coverage only for that journey, ensuring:

correct protection for the cargo type
compliance with contracts and trade requirements
reduced financial exposure if something goes wrong
continuity of business operations with minimal disruption

It offers focused protection, rather than a generic “one-size-fits-all” plan.