|
|
| CONFIRMATION OF MARINE COVER | No: {{ $coc }} |
|
||||
| Policy Holder {{ $policyholder }} |
Master Policy Number {{ $masterpolicy }} |
| This confirms that the person named below is insured under and subject to all terms, conditions, warranties and clauses of the above stated Master Policy. |
| Subject Matter Insured {{ $description }} |
Bill Lading No. |
| Insured {{ $insured }} |
Amount of Insurance PHP {{ number_format($insurance_amount,2,".",",") }} |
| Term of Insurance One way only from loading onto vessel at port of origin until unloading from vessel at the port of destination |
From: {{ $from }} To: {{ $to }} |
| Vessel {{$vessel}} |
Departure Date / Time {{ $date.' / '.$time }} |
| Issue Date {{ $issue_date }} |
Premium Incl. Stamps & Taxes {{ $amount }} |
| IMPORTANT NOTICE: The Insurance Commission with offices in Manila, Cebu and Davao is the government official in charge of the faithful execution and enforcement of all laws relating to insurance and has supervision over insurance companies. He is ready at all times to render assistance in settling any controversy between an insurance company and a policy holder relating to insurance matters. |
STERLING INSURANCE COMPANY INC.
VERONICA M. AQUINO
Authorized Signatory
|
| SCOPE OF COVER |
| The policy covers against loss of or damage to the subject matter insured caused by perils insured against under Institute Cargo Clauses (C) 1,1,82 CL 253. Covered Perils: • Fire or explosion • Vessel or craft being stranded grounded sank or capsized • Collision or contact of vessel craft or conveyance with any external object other than water • Discharge of cargo at a port of distress • General average sacrifice • Jettison • Loading and unloading onto or from the carrying vessel Exclusions: • Wilful misconduct of the Insured • Ordinary leakage, ordinary loss in weight or volume or ordinary wear and tear of the subject matter insured • Insufficient or unsuitability of packing or preparation of the subject matter insured • Inherent vice or nature of the subject matter insured • Insolvency or financial default of the Insured • Deliberate damage to or destruction of the subject matter insured by wrongful act of any person or persons • Un-seaworthiness of the vessel or craft or un-fitness of vessel conveyance or container at the time of loading • Mechanical or electrical derangement • Rusting, oxidation and discoloration |
| BASIS OF VALUATION |
| In case of total loss: • Brand new – invoice value • Second hand or used – fair market value or Amount of Insurance, whichever is lesser. In case of partial loss of the subject matter insured – the actual cost of repairs but not exceeding the Amount of Insurance |
| NOTICE OF CLAIM |
| Written notice of claim must be given to the Company within 24 hours from the time of the happening of the loss or damage. |
| DISCLAIMER |
| This Confirmation of Cover is intended to be a general summary. For full details on terms, conditions, exclusions and provisions of your coverage, you may request for a copy of the Master Policy. |
| "We go further to serve you better" |