Goods in Transit / Cargo insurance

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’.

Clause ‘A’ / full coverage / covers all possible risks of loss or damage to the insured cargo during transportation, except for the risk of war, political unrest, strikes, riots, bankruptcy of the insured,  exchange rate differences on the value of goods on the stock exchange, intentional action or inaction of the insured, as well as damage caused by insufficient or inappropriate packaging or unsuitability of the vehicle. Covered risks include fire, explosion, traffic accident, natural perils, theft.

Clause ‘B’ / limited coverage / covers fire, natural perilss, earthquakes, wetting of cargo, веттинг, entry of wet or river water into the trailer or container, partial or complete loss of a package of goods.

Clause ‘C’ / minimum coverage / covers only fire, explosion, traffic accident and total loss. Insured under this clause are bulk goods, liquids, second-hand goods against complete loss of cargo.

Compensation is paid for the full or partial loss of the cargo depending on the insurance event and the risks covered by the policy. Expenses incurred for the purpose of saving the cargo or limiting the damages, as well as fees for issuing surveyor’s protocol are also reimbursed.

As an extension to the insurance, cover against the risks of war-like events, strikes, riots and civil commotion and other specific risks might be provided.

Carrier's Liability Insurance / CMR

The insurance covers the liability of the insured, as a carrier of goods by road, according to the Convention on the International Carriage of Goods by Road (CMR)

The limit of the Insurer’s liability is up to the actual value of the missing or damaged cargo, but not more than the amount of compensation specified in the Convention on the International Carriage of Goods by Road.

The insurance contract can be extended to cover:

  • Cabotage transport
  • Loss and damage to a container in the event of an accident or fire
  • Loss and damage of a trailer / semi-trailer to third parties in the event of an accident and / or fire
  • Transportation of ADR cargo
  • Transportation of goods by refrigerated vehicles

The policy can be one-time or on subscription basis.

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