13.1.2.9 Application for cargo insurance and insur...
When you go about purchasing cargo insurance,you start by submitting an application for insurance,providing information about the insured,the cargo,the voyage,the needed coverage,etc.Once the insurance premium is determined for your shipment,the insurancecompany issues the insurance policy based on information and documents you have supplied.Insurance can be arranged as soon as you get goods ready or after you have learned of the vessel name.Either way,make sure your insurance policy takes effect at a time no later than the date of shipment,namely,the on-board date of the bill of lading,otherwise,a gap on the voyage exists when the cargo is not covered by insurance.Should anything happen in that gap,you are liable for the damages to or losses of the cargo.Figure 13-11 is a sample application form for cargo transportation insurance and Figure 13-12 shows a sample insurance policy.
Figure 13-10 A Sample Certificate of Origin