What is JCC Watchlist?
Make informed decisions with a clear view of global cargo risk. The JCC list monitors risks to cargo transported via air, land and sea. Risk managers and underwriters use this list to: Determine optimal cargo transport method and route.
What is the Joint Cargo Committee?
The Committee provides a representative forum for appropriate discussion of current issues and challenges facing the marine cargo market. Such requirements would include: promoting the principles of best practice in the cargo market.
What is ICC B in marine insurance?
Institute Cargo Clauses (B): Institute Cargo Clauses (B) is the medium cover cargo insurance policy available in the market. ICC (B) cargo insurance covers more risks than ICC (C) cargo clauses but covers less risks than ICC (A) All Risks insurance policies.
What is guaranteed out turn?
Under an outturn guarantee, we assume responsibility for any such weight differences in accordance with the custom of the port and/or the terms of your contract. The FOG minimizes your trade risks by covering any shortfalls that occur due to: Customary trade losses. Errors in weighing, gauging and measuring. Theft.
What is ICC C cover in marine insurance?
ICC (C) Cargo clause provides a very basic cover for partial or total loss of cargo caused due to an accidental damage to the sea, air or land carrying vessel. All risk land transit clause covers shipments by land on a comprehensive all risk basis for partial or total loss of cargo from insured perils.
What is ITC B in insurance?
b) Inland Transit Clause (Basic Cover or ITC B) Covering against loss or damage to the insured goods whilst in transit by road/rail caused by fire, lightning, breakdown of bridges, collision, overturning or derailment. Inland transit cargo insurance is very popular for the movement of domestic goods within the country.
Which peril is not covered under ICC C?
Risks relating to war (including loss or damage caused by mines, etc left over from previous hostilities) and damage caused by strikers, terrorists and in riots are excluded.
What is RR in marine insurance?
RAIL. ROAD. ROAD/RAIL. LR/RR/RPP No.
What is SRCC cancellation clause?
An insurance clause referring to loss or damage directly caused by strikers, locked-out workmen, persons’ participation in labor disturbances, and riots of various kinds. The ordinary marine insurance policy does not cover this risk.
Is Marine a insurance?
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. When goods are transported by mail or courier, shipping insurance is used instead.
What is ITC B cover?
What is SRCC in marine insurance?
Who is responsible for the use of the JCC cargo watchlist?
The JCC takes all reasonable care in providing this list, but accepts no liability for any errors or omissions or for the use of the list. Responsibility for the use of the list rests entirely with individual underwriters, brokers, and assureds. This is Version 199 of the JCC Cargo Watchlist.
What does JCC stand for?
Do you need to factor risk into cargo transport or underwriting decisions? Country Risk maintains two monthly updated watch lists: the Joint Cargo Committee’s (JCC) Global Cargo Watch List for the Lloyd’s Market Association, and the IHS Markit Global/Marine Offshore Watch List, both of which are made freely available.
Who is responsible for the use of the JCC’s list?
Please note: The JCC takes all reasonable care in providing this list, but accepts no liability for any errors or omissions or for the use of the list. Responsibility for the use of the list rests entirely with individual underwriters, brokers, and assureds.
What is the difference between the JCC and global/marine offshore lists?
The JCC list monitors risks to cargo transported via air, land and sea. The Global/Marine Offshore list tracks those ports and offshore areas where war, terrorism, seizure and other risks are greatest. Risk managers and underwriters use these lists to: Country Risk provides the Joint Cargo Committee Watch List for the Lloyd’s market.
