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What is Institute ICC in insurance?

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Question ajoutée par mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice
Date de publication: 2014/01/17
Mamoun elbaghir abdalla mhamad Eltayeb
par Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

I think the term and abreviation Institute ICC is refer to Institute Cargo Clauses .such clauses are attached to the marine cargo insurance policy and forming part of the policy conditions.

  However , institute cargo clauses comprise three levels of coverage as follows

 1) Institute Cargo Clause (A)  is All Risk Cover with wide cover and higest permium.

 2) Institute Cargo C lause (B)   is a moderate covering only partial losses with moderate premium and more less cover.

 3) Institute Cargo Clause (C) is least cover with most  less premium and coverage 

 I hope this answer meet your requirment

 Thanking You

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