An insurance contract in which ocean-going cargo is insured.

Cover is against “all risks” as in ICC (A) except that GA and salvage charges and both to blame collision clauses are omitted, these not being concerned with air transit. Under duty of the assured clause, charges reasonably and properly incurred to avert or minimize an insured loss and pursue recovery rights are also covered. Forwarding charges would be covered under this item, being sue and labor in nature.

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A policy covering the cargo being transported by a carrier.
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An ocean or inland marine Insurance contract that protects the insured against the los of or damage to shipments.
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UK: Cover is defined by standard clauses. Institute Cargo Clauses, have three main sets, Clauses A, B and C, selected according to the nature of the goods, and specific to the type of cargo, e.g. coal, oil, jute, frozen food, etc. All sets cover general average and salvage charges and contain the War Exclusion Clause and the Strikes Exclusion Clause.
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Inland or ocean marine insurance covering property in transit.

Insurance that covers cargo as it is transported to another location.

Insurable interest relating to cargo, other than the interest of the cargo owner.

In 1994, the International Safety Management (ISM) Code was incorporated into the SOLAS Convention. SOLAS (SAFETY OF Life at Sea) prescribed rules for construction of ships, their equipment and standard operating procedure to ensure greater safety of human lives. From 1st July 2002 ISM code is mandatory for almost all types of vessels. From the Maine Cargo stand point the policy will not cover cargo carried in a vessel which not ISM Code complaint at the time of loading of the cargo provided the insured was aware or as a prudent business man should have been aware that the vessel was not ISM Code compliant. However, this not impacts the right of a person claiming under this insurance who has bought the goods in good faith and is assigned this policy.

If a vessel is detailed at any port for not complying with the ISM Code, by virtue of this clause, expenses incurred on unloading the cargo, storing and subsequent forwarding to the named final destination or any other destination are reimbursed to the Assured. The maximum limit of reimbursement will be the sum insured for the voyage. This clause is always to be used along with the Cargo ISM Endorsement only. If a vessel which is not ISM Code compliant declares a General Average or claim for Salvage Charges, the inclusion of the Forwarding Charges clause will have no relevance and the claim will not be payable.

Specially created Cells by the Insurers for Cargo Loss Prevention and Minimization.