Product Overview
As a service provider, we understand the importance of providing your clients with an uninterrupted service. With Marine Cargo, you can now ensure that there are no limitations to the loss of your cargo that may put your business at risk. This policy covers the loss and damage of cargo during transportation by waterway, railway, road, as well as combined transportation.
Marine Cargo policy covers the following:
- Fire and explosion
- Vessel / Craft being stranded, grounded, sunk or capsized
- Collision or contact of vessel, craft or conveyance with any external object other than water
- Discharge of cargo at port of distress
- Earthquake, volcanic eruption or lightning
- General average sacrifice
- Jettison
- Washing overboard
- Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, lift van or place of storage
- Total loss of any package lost overboard or dropped whilst loading onto or unloading from vessel or craft
- Theft, pilferage and non-delivery, rough handling, piracy
- Contamination
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Liberty General Insurance Berhad is a member of Perbadanan Insurans Deposit Malaysia (PIDM). PIDM protects the benefit(s) payable under the eligible policy up to protection limits. Please refer to PIDM's TIPS Brochure or PIDM's Website, or contact our customer service.
Liberty General Insurance Berhad is a member of Perbadanan Insurans Deposit Malaysia (PIDM). PIDM protects the benefit(s) payable under the eligible policy up to protection limits. Please refer to PIDM's TIPS Brochure or PIDM's Website, or contact our customer service.
Legal Shield - Marine Cargo
Terms
- This Legal Shield claim is limited to RM 25,000 per shipment/marine certificate
- For any Marine Cargo claim, a 20% co-share is to be borne by the policyholder, applicable to each and every claim
- This embedded coverage benefits are only limited to Marine Cargo policyholders
Benefits of Coverage
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Commercial Contract Disputes
Pursuit of defense of any disputes or legal proceedings made by or brought against you over a contract or alleged contract for the sale, purchase or hire of goods or services provided
Potential Claims Scenarios for Legal Shield
Scenario 1
An exporter, also a business owner and a seller, had a sales contract with his foreign buyer. The exporter managed to deliver the goods in good condition as per contract. Unfortunately, the buyer failed to make payment after the delivery. The exporter then used the policy to pursue the buyer and managed to recover the outstanding debt.
Scenario 2
An exporter, also a business owner and a vegetables supplier, entered into a logistics contract with a freight forwarder. The freight forwarder failed to fulfill certain conditions as stated in the contract such as providing the hail netting to cover the goods. Due to the freight forwarder’s negligence during the transit, the goods were damaged. The exporter then used the policy and convinced the court that the incident had caused him financial loss due to the shortfall in payment from his client after the freight forwarder failed to deliver the goods in good condition.
Scenario 3
A business owner, also a buyer and an importer, made a deposit payment for shipment of fresh fruits. The seller however failed to ship the cargo on time as per contract agreement and delivered the Mandarin Oranges after the Chinese New Year season which significantly reduced the customers’ demand. Due to the delivery delay, the business owner refused to honour the balance payment. To recover the unpaid payment, the seller brought this matter to court. As a policyholder of the Legal Shield Insurance, the business owner covered his legal cost to defend the claims in court and negotiated the balance payment at a lesser amount to the buyer.
Important Documents
To fully understand your insurance plan, please read these important documents. They provide crucial information such as coverage details, exclusions and your rights as a policyholder so you can make an informed decision.
Must-Read Documents
Product Disclosure Sheet (PDS)
A quick overview of the key details, terms, and exclusions for this plan to help you make an informed choice.
English PDF
Policy Wording
The full terms and conditions of your policy, including what’s covered, exclusions, and your responsibilities.
Other Documents
Legal Shield Brochure
This is a snapshot of the product’s main features and benefits.
Proposal Form
Use this form if you’d like an offline quote. (No need to fill this out for online purchases.)
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