Insurance Declaration Under Open Cover
The date of the insurance document must be no later than the date of shipment unless it appears from the insurance document that the cover is effective from a date not later than the date of shipment.
Insurance declaration under open cover. Under the open marine insurance policy successive shipments are declared to the insurance company and they automatically get covered under the open marine insurance policy on or after the policy s inception date. Declaration under marine open cover author. 2 5 declarations 2 5 1you must promptly declare every consignment to which this open cover applies and we will accept declarations up to but not exceeding the limit of indemnity stated in the schedule. It does not therefore include open cover.
5 blue street north sydney nsw 2060. Cover notes will not be accepted. Also called open cover. If the answer s now given by me us cease to be true and or complete l we undertake to give immediate notification to the company.
An insurance policy is acceptable in lieu of an insurance certificate or a declaration under an open cover. Here the policy covers a number of dispatches until the sum. 7 2 2009 9 33 54 am. Proposer s signature date.
L we further agree to accept a policy subject to the terms and conditions prescribed by the company therein. 2 5 2 if an unintentional mistake causes an. Zurich australian insurance limited abn 13 000 296 640 afs licence no. Marine cargo insurance that provides blanket cover against loss or damage to all goods transported by a specific carrier or by a specific shipper during a stated period.
Imho declaration under an open cover must be made by the insured party to the insurance company declaring that towards a specific open policy you are insuring a certan cargo specifying all necessary details. For your information i hear that cdcs exams have a similar question and the correct answer given is that a declaration under an open cover is acceptable in lieu of an insurance ceritificate and vice versa. Declaration for marine open cover and open policy form subject. This thesis includes two parts.
The insurance declaration page contains all the important information regarding your insurance contract including what is covered the type of coverage and other details so review the declaration page in detail to make sure everything is correct such as your name address and insurance policy amounts. Created pdf created date. A declaration under an open cover may not be acceptable in lieu of an insurance ceritificate and vice versa. Zurich australian insurance limited created date.
I think that is used when insrance cover is provided by the buyer. Any policies or certificates of insurance issued under this open cover must strictly conform to the terms conditions and limits of this open cover. Usually it is an annual cargo insurance policy which is issued for one sum insured to cover a number of dispatches.
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