Insurance Conditions & Claims

General Conditions

With the aim of offering a complete range of services under major guarantees, we put at the disposal of our customers the possibility of ensuring their cargoes under a floating policy covering all risk (*), contracted by Transunion with a worldwide leading company specialised in transportation. 

Those client who apply by written, will benefit of a maximum coverage for any incident that could occur during the whole service of transportation, as well as a very interesting premium. Said application, has to be done per shipment, and once accepted the coverage by the insurance company, Transunion will issue a certificate with the shipment details of covered cargoes, as well as the confirmation of the coverage through the floating policy by the insurance company and the type of coverage. 

Depending on the particulars of every shipment that has to be assured, and upon confirmation by the insurance company, the general characteristics of the policy are:

•  Objects that can be assured: general merchandise, including perishable goods, vehicles (*), minerals (*), any type of merchandise in bulk (*) and machinery of public works (*), in new state, in exception of : live animals, precious metals, money, jewels, precious stones, values, documents, objects of art and/or of affective or artistic, explosive or radioactive merchandise, duly wrapped and/or conditioned for its transportation. The devolutions to its origin, no matter for which reason, are excluded. 

•  Way of transportation: Ocean, Air and/or road

•  Scope: Worldwide, import and export from/to any point in the world except the countries excluded by the insurance company due to high risk of sinister

•  Maximum assured capital per shipment: depending the destination

•  Coverings: I.C.C.(A), I.S.C.(CARGO); I.W.C.(CARGO), I.W.C.C (CARGO), I.C.C.01.01.01., I.F.F.C.(A), SPECIAL CLAUSE FOR FLOATING POLICIES, MARK 04811, GE04, GE009, CYBER CLAUSE AND NUCLEAR RISK

(*) GENERAL TERMS

Claims

IN VIEW OF THE POSSIBILITY OF LOSS OF DAMAGE TO YOUR MERCHANDISE; FOLLOW THESE STEPS TO AVOID UNNECESARY DELAYS IN THE HANDLING OF DAMAGE / LOSS PROCEDURES.

Verification of External Damages 

Upon arrival of the goods at their destination and before agreeing to their receipt, their external appearance must always be checked for possible signs of damage, since any notification of outwardly damaged goods is to be reported at that moment. 
Faced with signs of damage, it is always better to indicate on the delivery note: "Received without inspecting the inside of the package/s", thereby implicating whoever might be responsible.

Verification of Internal Damages 

If the goods are approved for receipt, there being no evidence of any damage in the packaging, it is recommendable to check meticulously the condition of the goods within 48 hours, which is the deadline for claims against a third party responsible for any inner damage. 

Notifying the Damage Surveyor 

In case of established damages, and whenever the amount surpasses 600 Euros, the surveyor of damage, whose name figures on the insurance certificate, is to be informed so that he can appear immediately to find out where the goods are, to value the reason for the accident and its scope (the value of the damages). This surveyor will take charge of all the details concerning the transaction, offering a specialist report to the carrier, etc. If the accident does not surpass this amount, and as a way of cutting down on the accident procedure, it is to be documented by the addressee in every way possible with photos, video, etc. in order to evaluate the accident without the intervention of an expert.

Protecting the Rights of the Insurance Company (possible substitution) 

Besides the above mentioned matters, the insurance policyholder must be aware of the possible rights of the insurance company to pass the value of the compensation onto the originator of the damage to the goods, hence the addressee must make the appropriate notifications within the time limit specified by each legislation, be it land, sea or air; otherwise, it could end up being rejected. 
Once the damages have been checked and assessed, the goods remain in possession of the insurance policyholder until he/she has been compensated, unless there are impeding circumstances. It is always to be remembered that "the insurance policyholder must behave in such a way as to alleviate accident damage and see to it that the goods are kept in good condition, in other words, behave as if he/she were not insured."

Receipt of the survey report 

It is advisable that the survey report is to be handed to the insurance policyholder or the insured party, so that he/she does not lose controle over it, being constantly aware of the scope of the damage and its reason. There is therefore no problem in paying the survey's fees on arrival and later presenting the report to the insurance company or broker, who will then pay these fees, whether or not the accident is covered. 
Remember that insurance certification is legally binding to all parties, and time limits must be respected in order to get proceedings of the accident well wound up. 

Accident Acceptance / Rejection 

Once all the documentation is in the insurance company's possession, and after having examined the circumstances of the occurred accident, the insurance company must proceed to compensate within the legal time limit,unless it is deemed that reasons exist why payment should be prevented.