MARINE AND AVIATION INSURANCE

What It Covers: Loss or damage to goods during transit by sea, air, or land (if incidental to the voyage).

Main Perils - Risk Coverage

• Perils of the Sea: Extraordinary events like storms, waves, and natural hazards that cause damage (not just ordinary wear and tear).
• Fire or Explosion: Damage to cargo due to accidental fire or explosion during transit.
• Sinking, Stranding, or Capsizing: Total or partial loss if the carrying vessel sinks, runs aground, or overturns.
• Collision or Contact: Damage due to the carrying vessel colliding with another vessel, pier, or floating object.
• Jettison: Deliberate throwing overboard of cargo to lighten the ship and save it from peril.
• General Average Contribution: The insured cargo’s share in losses or expenses voluntarily incurred to save the vessel and remaining cargo.
• Theft or Pilferage: Loss due to unlawful taking of goods (if the policy includes pilferage extension).
• War Risk, SRCC: Damage caused by war, strikes, riots, or civil commotions (only if specifically endorsed).

• 📄 Commercial Invoice – Indicates the value of goods to be insured.
• 📦 Packing List – Details the contents, packaging type, and weight/volume.
• 🚢 Bill of Lading / Airway Bill – Proof of shipment, carrier, and destination.
• 🏢 Consignee and Shipper Details – Full name, address, and contact information.
• 📍 Description of Goods – Type, nature, and condition of the cargo.
• 💰 Sum Insured / Declared Value – Usually invoice cost + freight + 10% (or agreed uplift).
• 📆 Voyage Details – Point of origin, destination, transshipment ports, ETD, and ETA.
• 🛳 Mode of Transport – Vessel name, voyage number, carrier details.
• ✅ Insurance Application Form – Standard form provided by the insurer.
• ✅Vessel Safety Certificate
   

• 📄 Original Insurance Policy / Certificate of Insurance
• 🚢 Original Bill of Lading / Shipping Receipt
• 📦 Commercial Invoice and Packing List
• 📝 Notice of Loss / Claim Form – Timely written notification to the insurer.
• 📸 Survey Report or Inspection Certificate – Issued by a licensed marine surveyor.
• 📷 Photos of Damaged Goods
• 🛳 Statement of Facts / Protest Letter – From the carrier regarding the incident.
• 💰 Proof of Payment / Value Documents – To establish the actual loss amount.
   

What It Covers: Physical loss or damage to the vessel (hull, machinery, and equipment) and related liabilities.

Main Perils - Risk Coverage

• Perils of the Sea: Heavy weather, grounding, waves causing hull breaches or structural damage.
• Fire or Explosion: Accidental fire onboard or in storage areas damaging the ship.
• Sinking or Capsizing: Total loss when the vessel goes underwater or overturns.
• Collision Liability: Costs if the insured vessel damages another vessel or property.
• Salvage and Towage: Expenses incurred to save or recover the vessel after an accident.
• General Average: Vessel owner’s obligation to contribute to expenses made to save the ship and cargo.
• Piracy: Theft or seizure of the vessel by pirates (covered if included in policy).
• War and SRCC Risks: Optional cover for war-related damages, strikes, and civil unrest affecting the vessel.

• 🛳 Vessel Information Sheet – Includes name, type, year built, gross tonnage, flag, classification, and IMO number.
• ⚙ Engine and Machinery Details – Make, model, horsepower, and condition.
• 📜 Certificate of Ownership / Vessel Registry – Proof of legal ownership and registration.
• 📝 Survey Report / Condition Report – Recent inspection by a licensed marine surveyor to verify seaworthiness.
• 🏢 Owner/Operator Profile – Experience, operational history, and safety records.
• 📍 Trading Limits / Navigation Area – Geographic limits where the vessel will operate.
• 📆 Period of Insurance – Usually annual; specify start and end dates.
• 💰 Agreed Value (Sum Insured) – Typically based on market value or replacement cost.
• ✅ Completed Insurance Application Form – Provided by the insurer.

• 📄 Original Insurance Policy / Cover Note
• 🛳 Vessel Logbook Extracts – Records of the incident (date, time, location, weather).
• 📜 Survey Report (Damage Assessment) – Conducted by an approved surveyor.
• 📝 Statement of Facts / Protest Letter – Prepared by the captain or master of the vessel.
• 📸 Photographs of Damage – Clear images of affected areas.
• 💰 Repair Estimates / Invoices – Itemized cost for parts and labor.
• 🏛 Port or Coast Guard Reports – If required for collision, grounding, or sinking incidents.
• ⚠ Third-Party Claims Documentation – For liability-related cases (e.g., collision).

• Aircraft Hull Insurance – Covers accidental physical loss or damage to the aircraft (including engines and equipment) due to fire, explosion, theft, collision, or natural hazards.
• Aircraft Liability Insurance
  – Protects against legal liabilities for third-party bodily injury, death, or property damage caused by aircraft operations.
• Passenger Liability Insurance– Provides compensation to passengers (or their families) for injury, disability, or death resulting from an aviation accident.
• Cargo Liability Insurance – Covers loss or damage to cargo during air transit caused by fire, crashes, emergency landings, or other covered perils.
• Crew Personal Accident Insurance – Offers financial protection to pilots and crew in case of accidental injury, disability, or death while performing their duties.
• War & Allied Perils Extension – Optional coverage that includes risks from war, terrorism, hijacking, and civil disturbances.

• 🛩 Aircraft Details – Make, model, serial number, year of manufacture, seating capacity, and current market value.
• 📜 Certificate of Registration – Proof that the aircraft is registered with the Civil Aviation Authority of the Philippines (CAAP).
• ✈ Airworthiness Certificate – Ensures the aircraft meets safety and operational standards.
• 👨‍✈️ Pilot Information – Licenses, ratings, flight hours, and experience.
• 📝 Usage Details – Private, commercial, charter, cargo, agricultural, etc.
• 📍 Base of Operations and Geographic Limits – Where the aircraft is primarily stored and operated.
• 📆 Coverage Period – Usually annual, with specified start and end dates.
• 💰 Agreed Value (Sum Insured) – Typically based on appraised or market value.
• ✅ Completed Insurance Proposal Form – Standard form from the insurer.

• 📄 Original Insurance Policy / Cover Note
• ✈ Pilot’s Report / Captain’s Statement – Details of the incident.
• 📜 Accident or Incident Report – Issued by CAAP or relevant authorities.
• 📸 Photographs or Videos of Damage
• 📝 Maintenance and Flight Logs – Records of the aircraft’s last flights and upkeep.
• 💰 Repair Estimates / Invoices – From licensed repair facilities.
• 👥 Passenger Manifest & Injury Reports – If passengers are involved.
• ⚠ Third-Party Damage Reports – For liability-related cases.