NAVIG8 MARINE FACILITY

NAVIG8NAVIG8 Navig8 is a Marine Cargo & inland transit insurance

facility specifically designed for the marine market.

Our current facility principle is Astra Maritime Underwriting Managers (Pty) Ltd who over the last five years are seen as the most stable and experienced Underwriting team in the market at this present time.

In turn Astra’s principle and partner is The Hollard. This South African Insurance Company has total assets in excess of R5 Billion.

The facility premiums are based on fair underwriting of each risk insured, the objective being continuity on a sustainable basis.

The cover under the Navig8 facility is one of the most comprehensive marine policies obtainable in the market.

LIMITS OF LIABILITY/SUMS LIMITS OF LIABILITY/SUMS INSUREDINSURED

R20 000 000 ANY ONE VESSEL, AIRCRAFT OR CONVEYANCE

R40 000 000 ANY ONE LOCATION

R3 000 000 ANY ONE EXHIBITION

R5 000 000 ANY ONE INTERMEDIATE STORAGE

PLUS ADDITIONAL SUMS INSURED – ANCILLARY EXTENSIONS

GEOGRAPHICAL LIMITSGEOGRAPHICAL LIMITS

WORDWIDE

EXCLUDING SHIPMENTS/SENDING TO AND FROM:

ANGOLA

BURUNDI

THE DEMOCRATIC REPUBLIC OF CONGO

COUNTRIES UNDER UNITED NATIONS SANCTIONS

SUBJECT MATTERSUBJECT MATTER

ALL GOODS AND/OR MERCHANDISE FOR WHICH THE ASSURED IS

RESPONSIBLE INCLUDING:

ALL NEW AND SECOND-HAND PACKING MATERIAL, LABELS AND THE LIKE

EXCLUDING:

JEWELLERY, WATCHES, PRECIOUS STONES, FURS, BANK AND/OR TREASURY NOTES, BULLION, MONEY, SECURITIES, STAMPS, PATTERNS OR MANUSCRIPTS, ANTIQUES, EXPLOSIVES AND ALL LIVESTOCK

STANDARD CONDITIONSSTANDARD CONDITIONS

VOYAGES

AUTOMATICALLY INCLUDES:

IN CUSTOMS AND TRANSHIPMENT CUSTOMARY OR OTHERWISE

LOADING OR UNLOADING

EXHIBITIONS WHERE REQUIRED

TRAVELLER’S SAMPLES WHERE REQUIRED

GENERAL CONDITIONS AND GENERAL CONDITIONS AND EXTENSIONSEXTENSIONS

WIDER THAN THE MARKET “NORM”:

RECONDITIONS AND/OR REFURBISHED CARGO/MACHINERY AS “NEW”

INCLUDES “REPAIRERS CLAUSE” WHICH MAKES PROVISION FOR LOSS OF MANUFACTURERS WARRENTY

HEATING, SWEATING AND CONDENSATION FOR CONTAINERISED CARGO

ALLOCATION AND DISTRIBUTION

CONCEALED DAMAGE

AIRFREIGHT REPLACEMENT – LIMITED TO 20%

DEBRIS REMOVAL - MAXIMUM 10% OF LIMIT

CONTINUEDCONTINUED

CIF/CIP CLAUSE – 50% OF THE GENERAL CARGO RATE

EX WORKS CLAUSE – IMPORTS

SELLERS INTEREST – EXPORTS

SOUTH AMERICAN EXTENSION CLAUSE

UNEXPLAINED LOSS FROM CONTAINERS

WAIVER OF RECOURSE AGAINST CHARTERERS

WILFUL MISCONDUCT

LETTERS OF CREDIT CLAUSE

INDEMNITY CLAUSE

CLAIMSCLAIMS

SHORTLANDED CARGO

PAYMENT ON ACCOUNT

CLAIM PREPARATION COSTS – SUBJECT TO NEGOTIATION

NAVIG8 CLAIMS SETTLED BY NAVIG8 UP TOA LIMIT OF R500 000 ANY ONE LOSS

APPOINTS AGREED SURVEYOR AND RECEIVESALL SURVEY REPORTS

RECOVERIES ARE PERSUED BY A MARINE ATTORNEY

‘‘NAPOLI”NAPOLI”

CAN YOUR CLIENTS AFFORD NOT TO INSURE THEIR CARGO?

""Repubblica Du Genova"Repubblica Du Genova"

THIS COULD HAPPEN TO ANY CLIENT’S CARGO!

IS YOUR CLIENT AWARE OF THE FACT THAT:

METHOD OF PACKING

The onus rests entirely with the client/shipper to The onus rests entirely with the client/shipper to take the reasonable measures to avert andtake the reasonable measures to avert andminimize losses by employing the correct packing minimize losses by employing the correct packing methodologymethodology .

CONTAINERS:

A container cannot be a substitute for packing.A container cannot be a substitute for packing.

Fire or explosion, Vessel stranded, grounded, sunk or capsized, Collision of vessel or conveyance,

Discharge at a port of distress, General Average, Jettison

Fire or explosion, Vessel stranded, grounded, sunk or capsized, Overturning or derailment, collision,

Discharge at port of distress, Earthquake or Volcanic eruption, or lightning, Total loss of package during loading/unloading, Entry of

sea/lake/river water, Washing overboard, General Average, Jettison or washing overboard

All Risks of physical loss of or damage to cargo only e.g. Contamination, Deliberate damage,

Piracy, Heavy Weather, Breakage, Theft, Pilferage and non-delivery, Leakage, General Average

COVER COMPARISION

C

B

A

EXCLUSIONS

Some of the exclusions your client should be made fully aware of:

Ordinary leakage, loss in weight or wear and tear

Insufficiency/unsuitability of packing or preparation of cargo

Inherent vice

Delay

Insolvency of ship owners, managers, charterers

Unseaworthiness of vessel or craft

MARINE CLAIMS

The Basic Rules that apply to any claim are:

It is the duty of the Assured and their servants/agents to:

* * All rights of recourse against carriers, All rights of recourse against carriers, bailees bailees or third parties are or third parties are properly preserved and properly preserved and exercisedexercised

* * To take reasonable measures to avert or To take reasonable measures to avert or

minimising any lossminimising any loss