Insured are goods subject to import, export and re-export, which are carried at the risk of the Insured against loss and damage during their transportation to and from all countries in the world and on the territory of the Republic of Bulgaria. Subject of insurance might be any goods transported under a bill of lading or other carriage contract with any type of recognized vehicle. The insurer of the cargo, against an insurance premium, undertakes to indemnify the beneficiary of the insurance in case of an event covered by the terms of the insurance contract in order to return the insured to the economic condition in which he was before the event.
The insurance value is determined on the basis of the invoice value of the cargo plus freight, loading and unloading costs, and any other costs.
The insurance cover is unified according to the Original London clauses, the so-called ‘Institute Cargo Clauses’.