Marine Cargo - Single Voyage - Overview¶

Product Code¶

3010 - Marine Cargo Individual Policy - Single Voyage

Product Description¶

From Premia: "Marine Cargo Individual Policy - Single Voyage"

Product Class: 30 (Marine)

Available Coverages¶

Based on actual policy usage from Premia database:

Main Coverages¶

301008 - War & Strikes - War risks coverage - Used in 265 out of 302 policies (most common) - Average SI: AED 52,085 - Average Premium: AED 23

301001 - ICC (A) - Institute Cargo Clauses (A) - All Risks - Used in 195 policies - Average SI: AED 1,072,569 - Average Premium: AED 1,825

301005 - ICC (Air) - Air cargo coverage - Used in 45 policies - Average SI: AED 336,390 - Average Premium: AED 458

301006 - Land Transit All Risk - Inland transit all risks - Used in 34 policies - Average SI: AED 352,200 - Average Premium: AED 871

301002 - ICC (C) - Institute Cargo Clauses (C) - Named perils - Used in 14 policies - Average SI: AED 1,248,294 - Average Premium: AED 1,122

301007 - FCO - Free of Capture and Seizure - Used in 11 policies

Premium Data¶

From 302 actual policies (2009-2022):

Premium as % of Sum Insured: - Minimum Rate: 0.0006% - Maximum Rate: 5.00% - Average Rate: 0.80% - Median Rate: 0.48%

Premium Range: - Minimum: AED 0 - Maximum: AED 104,954 - Average: AED 1,510

Sum Insured Range: - Minimum: AED 1,000 (estimate) - Maximum: AED 33,856,000 - Average: AED 888,569

Premia Field Mappings¶

Table: PGIT_POLICY
- POL_PROD_CODE: '3010'
- POL_SI_LC_1: Sum Insured
- POL_PREM_LC_1: Premium Amount

Table: PGIT_POL_RISK_COVER
- PRC_CODE: 301001 (ICC A), 301008 (War), 301005 (Air), etc.
- PRC_SI_LC_1: Coverage sum insured
- PRC_PREM_LC_1: Coverage premium

Next Steps¶

Note: Documentation based on actual Premia data extraction from 302 policies.