The value placed on cargo for insurance purposes when insured under a valued policy. It normally extends to include all charges and profit.
Insurance Encyclopedia
Cargo War Risk Policy
A separate cargo policy covering cargo while waterborne only (except at transshipping point, which may be on land or water). Insures against war risks.
Carnet
A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries (for display, demonstration, or similar purpose) without paying duties or posting bonds.
Carpenter Cover
(01) The working cover subject to a prospective rating plan. (02) A form of excess reinsurance wherein each year’s premium rate is determined by the amount of the ceding insurer’s excess losses for a specified number of preceding years. A form of experience rating. See Also: “Spread Loss Reinsurance.”
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Refer: “Reinsurance, Spread Loss”
Carpenter plan
A name for spread loss reinsurance first introduced in the US by a broker named Carpenter.
Carpenter plan (Reinsurance)
A reinsurance plan wherein the premium is determined by the amount of the insurance company’s losses during a period of time.
Carriage by Air Act 1961
Enacts the Hague Protocol in the UK.
Carriage by Rail
See: CIM.
Carriage International (Warsaw Convention)
Any carriage in which according to the contract made by the parties, the place of departure and the place of destination, whether or not there be a break in the carriage or a transshipment, are situated either within the territories of the two High Contracting Parties or within the territory of a single High Contracting Party, if there is an agreed stopping place within a territory subject to the sovereignty of another power, even though that power is not a party to the Convention.
Carriage Non-international (Hague Protocol )
Non-international carriage has been defined as “any carriage in which according to the intention of the parties, the place of departure and the place of destination are both situated in India and there is no agreed stopping place outside India.