Tata AIG Marine Policies

2017-12-19 19:00:00 UTC

tata aig Marine Insurance

This post talks about the various marine policies ofered by Tata AIG general Insurnace company. We detail the benefits of each policy. As with any insurance policy, you can always contact Perilwise for a competitive quote.

Marine Sales Turnover Policy (STOP)

Marine Sales Turnover policy, aka STOP is a designer product for the discerning customer, an Open Policy in the real sense of the term. The premium for the policy is charged only on sales turnover. This is a very important product for freight forwarders and logistics operators, as their entire livelihood hinges on shipping.

STOP provides Transit insurance coverage on:

  • Imports and Customs Duty (Actual or Deemed / Contingent)
  • Domestic purchase of raw materials, consumables & stores
  • Any number of inter- factory / inter-depot / To & fro job worker movements
  • Exports on Freight on board (FOB)/ Cost insurance Freight (CIF) basis
  • Domestic sales of finished goods
  • Temporary storage cover at intermediate locations like Job workers / C & F premises etc.

What are the advantages of Tata AIG General Insurance Company Limited Marine STOP?

  • Sizeable saving in premium that is charged only on actual sales turnover.
  • Seamless cover with all movement of goods automatically covered.
  • No hassles of submitting periodical declaration of movements to the insurer. Only monthly sales figures need to be submitted.
  • Intermediate storage cover can be built into the policy.
  • Premium on full annual sales turnover need not be paid in advance. Facility for payment of premium on half-yearly / quarterly.
  • This policy provides cover from the time the raw material is purchased to movements to all intermediate locations for processing or storage until it reaches the final destination or until the customers responsibility ceases. This gives a seamless cover on a worldwide basis thereby reducing gaps in the overall process. Since each industry comes with its unique challenges and logistical issues TATA AIG provides customised solutions and endeavours to design a cost-effective product tailored to the specific needs of a business.

Innovative Marine Solutions

Multinational Cargo Transport Program

Tata AIG General Insurance Company Limited's Multinational Cargo Transport Program is a tailor-made cover for Indian companies whose operations span the globe. Under the program a Master Open Policy is underwritten in India covering the global transit risks of the assured and offering admitted policies in foreign countries as and when required. This policy can cover DIC (Difference in Conditions), movements between subsidiaries along with the coverages offered under a standard open policy. Our local offices along with marine teams located in all major cities will assist you in navigating through local legislation and currency regulations.

Click here to contact perilwise for marine dashboard.

Benefits of eMarine
  • The client can issue Marine Insurance Certificates anytime, anywhere from the comfort of his office/home to meet his business requirements.
  • Any number of users in the client's organization even from different locations can operate e-Marine with distinct user Ids and passwords.
  • The certificates can be viewed at various stages during issuance. Changes, if any, can be made then and there ensuring Quality documentation.
  • As the records get updated simultaneously at our office too, there is no need to submit separate declarations/details of certificates issued.
  • Balance available in the Deposit a/c can be viewed by the client at any point of time facilitating timely replenishments.
  • The unique encryption code on every insurance certificate facilitates verification of its authenticity, by any third party, anywhere in the world by simply logging on to our website and giving the encryption details.
  • Absolutely Free. There is no fee charged for e-Marine usage. Neither is there any need to install additional software. The only requirements are Internet connectivity and Acrobat Reader Version 4 and above.
Security Concerns
  • While developing this tool, the most important factor considered has been the security of data submitted by the client. The following features ensure that e-Marine is 100% Secure.
  • Data input and Information Access only by distinct user Ids and passwords.
  • During e-Marine operation, if PC left unattended for more than 5 minutes, Automatic Timeout takes place necessitating a new login.
  • The Server is maintained and monitored as per AIG's strict worldwide standards.
Marine Loss Control (MLCE)

Marine Loss Control Engineering is one of the most important offerings of Tata AIG General Insurance Company Limited's Marine policies. It helps get the clients products delivered on time and in undamaged condition to their clients.

  • This avoids loss of market share, products liability claims, and protects the brand integrity of the client.
  • This is achieved by scientific analysis, tailor-made recommendations and cost effective and sellable solutions provided by an experienced and full time dedicated team spread across the globe spanning different time zones.
  • MLCE helps our clients be more profitable by reducing loss frequency and severity and by giving value added service.
  • Provide timely and accurate information on worldwide and regional industry trends, high risk areas, potential hazards and threats.
  • Use of a well identified network of surveyors and security advisors that report under AIG standards
  • Direct contact with the different transport vendors and security providers
  • True involvement / Open to feedback / Constant Follow up
Claim Directory / 1st Loss Notice
  • In case of claims contact tata AIG at general.claims@tata-aig.com or perilwise.
  • To locate the nearest AIG office across the world visit www.aigmarine.com
  • For domestic claims contact the policy issuing office or the nearest branch
The Marine Specialist

Perilwise has extensive experience in Marine Insurance, and issue all kinds of marine policies, from specific voyage to open policies and open covers.

Tata AIG General Insurance Company Limited has a dedicated team of marine underwriters in all branches of the company; experts who understand specific needs of a business and provide customized solutions at most competitive rates.