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Posted by Admin on July, 30, 2026
Marine Insurance Agents India
CargoCover Advisory is an authorized ICICI Lombard marine insurance agency structuring cargo cover for exporters, importers, CHAs, freight forwarders and logistics companies at every major Indian port, ICD, and airport.
Who We Are
What Does a Marine Insurance Agent in India Actually Do?
A marine insurance agent doesn't underwrite risk themselves β the insurer (in our case, ICICI Lombard) does. The agent's job is to structure the right policy for your trade, get it in place before your cargo moves, handle shipment-wise declarations, and stand between you and the insurer if a claim needs to be filed. For an exporter or importer, that means one point of contact instead of navigating an insurer's branch process alone β someone who already knows what "110% CIF," "Institute Cargo Clause A," or "warehouse-to-warehouse" should mean in your policy, and makes sure they're actually written in, not just implied.
Right cover, right value
110% CIF invoice value, correct Institute Cargo Clause, and the extensions your specific commodity and route actually need.
Shipment-wise, on time
Every consignment declared against your Open Cover before it sails or flies, so cover is active from day one, not backdated.
Filed and followed through
Survey coordination, documentation, and direct follow-up with the insurer until your claim is settled.
Policy Types
Types of Marine Insurance Policies We Structure
There is no single "marine insurance policy" β the right structure depends on how often you ship, and whether it's one voyage or an ongoing trade. Here's what CargoCover Advisory offers, in plain terms.
Open Cover (Annual Open Policy)
A standing policy for exporters and importers who ship regularly. Every consignment is automatically covered the moment it moves, then declared against the policy afterward β no waiting on a certificate before each sailing or flight.
Specific / Voyage Policy
Covers a single shipment, one voyage or one flight, port-to-port or door-to-door. The right fit for a one-off export order or an occasional shipper without a running Open Cover.
Floating Policy
Written for a fixed aggregate sum insured that reduces as shipments are declared against it, until the sum is exhausted or renewed. Useful for traders and consolidators declaring multiple part-shipments over a season.
Time Policy
Covers a fixed period β commonly 12 months β irrespective of the number of voyages. More typical for hull/vessel cover, occasionally used alongside cargo policies for continuous inland or warehouse risk.
Levels of Cover: Institute Cargo Clauses A, B and C in Plain English
Every marine policy is written against one of three standard clause sets, which decide what perils are actually covered β this is separate from the policy type above.
ICC A β All Risks
Covers loss or damage from any external cause, unless specifically excluded. CargoCover's default base of cover on every policy we structure.
ICC B β Named Perils, Broader
Covers a defined list of perils including fire, sinking, and washing overboard, but not general mishandling or theft.
ICC C β Named Perils, Minimum
The narrowest standard cover, often the CIF-contract minimum β excludes theft, pilferage, and water damage, among others.
Add-Ons & Extensions
Add-On Covers We Build Into Your Policy
Two of these β War and SRCC β are standard on every CargoCover policy at no extra step. The rest are added based on your commodity, route, and Incoterm.
War Clause (Cargo)
Covers loss from war, hostilities, and related perils during transit β standard on every CargoCover policy.
SRCC β Strikes, Riots & Civil Commotion
Covers loss from strikes, riots, and civil unrest en route β standard on every CargoCover policy.
Warehouse-to-Warehouse Extension
Extends cover from the seller's warehouse through inland transit, port/ICD/airport handling, and ocean or air transit to the buyer's warehouse.
General Average & Salvage Charges
Covers your contribution if a General Average is declared, or salvage charges incurred to save the voyage.
Institute Replacement Clause
For machinery β covers the cost of replacing only the damaged part, not the entire unit.
Duty & Increased Value Cover
Protects the customs duty already paid or payable on cargo that arrives damaged or short-landed.
Theft, Pilferage & Non-Delivery (TPND)
Covers loss from theft, pilferage, or a package that simply never arrives at destination.
Refrigeration Breakdown Cover
For reefer cargo β covers spoilage caused by a mechanical breakdown of the refrigeration unit in transit.
Container / Package Loss Overboard
Covers cargo lost when a container or package is washed or lost overboard during the voyage.
Debris Removal
Covers the cost of removing wreck or debris of damaged cargo when required by port or customs authorities.
Institute Cargo Clauses (Air) β All Risks
The air-cargo equivalent of ICC A, covering loss or damage from any external cause during air transit.
Strike Clauses (Air Cargo)
The air-cargo equivalent of SRCC, covering strike- and riot-related loss for cargo moving by air.
Coverage Footprint
Products, Ports, ICDs, Airports, Cities & States We Cover
CargoCover Advisory structures policies for the full range of commodities India ships, moving through every major gateway in the country.
Commonly Insured Export & Import Commodities
Major Seaports
Major Air Cargo Gateways
Inland Container Depots (ICDs)
Manufacturing & Export Hubs (Cities)
States We Serve
Why CargoCover
Why Exporters Choose CargoCover Advisory
Authorized ICICI Lombard agent β not a broker reselling someone else's paperwork.
110% CIF & ICC A as standard β the strongest common base of cover, not an upsell.
War & SRCC built in β included from day one, never sold as an after-the-fact add-on.
Direct claims support β one point of contact from survey to settlement.
FAQs
Frequently Asked Questions
Who is a marine insurance agent in India?A marine insurance agent in India is a licensed intermediary, authorized by an insurer such as ICICI Lombard, who helps exporters, importers, CHAs, and logistics companies buy and manage cargo insurance policies β from structuring an Open Cover to filing and settling claims β without the exporter needing to deal with the insurer directly.
What is the difference between marine insurance and cargo insurance?In practice the terms are used interchangeably in India. "Marine insurance" is the formal legal and policy term covering loss or damage to goods in transit by sea, air, road, or rail, while "cargo insurance" is the everyday name for the same cover.
Is marine insurance compulsory for exporters in India?Marine insurance isn't legally compulsory for every shipment, but it is required whenever the sale contract's Incoterm places the insurance obligation on you (as in CIF or CIP), and it is strongly recommended on every other term, since carrier and forwarder liability is capped well below actual cargo value under the Hague-Visby Rules and the Montreal Convention.
What is 110% CIF value in a marine insurance policy?Insuring at 110% of CIF (Cost, Insurance and Freight) invoice value is the market-standard practice for export cargo insurance in India. The extra 10% is meant to cover incidental costs such as lost anticipated profit, bank charges, or minor incidental expenses if a claim arises, not just the bare invoice value.
Which is better β an Open Cover policy or a Specific policy?An Open Cover (Annual) Policy suits exporters and importers who ship regularly, since every consignment is automatically covered and simply declared afterward. A Specific or Voyage Policy suits a one-off shipment or an occasional exporter who doesn't need a standing annual policy.
Does CargoCover Advisory work directly with ICICI Lombard?Yes. CargoCover Advisory is an authorized ICICI Lombard marine insurance agent, structuring and servicing policies for Indian exporters, importers, CHAs, freight forwarders, NVOCCs, and logistics companies across the country.
Shipping from anywhere in India? Let's get it covered properly.
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CargoCover Advisory
Authorized ICICI Lombard marine insurance agent for Indian exporters, importers, CHAs, freight forwarders, NVOCCs, shipping lines and logistics companies.
Contact
Website: cargocover.in
Email: cargocoverindia@gmail.com
Β© CargoCover Advisory. Marine cargo insurance policies are underwritten by ICICI Lombard General Insurance; CargoCover Advisory acts as an authorized agent.
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