This is refers to goods or merchandise that are being carried from one place to another or are being imported or exported. Such goods or merchandise may be lost or damaged or transit and, therefore, the owner if such goods can always insure against the probable losses.  Bangladesh Marine Cargo Insurance policy is in line with the recommendations of the United  Nations Conference on Trade And Development (UNCTAD) making the revised wording of the Institute Cargo Clause (ICC) mandatory from 31-3-1983. With the introduction of new policy form the century old policy form and perils have been withdrawn and replaced by ICC(A), ICC(B) & ICC(C) clauses respectively. The new ICC apart from being worded in simple English, have more conceptual clarity in approach. The basic approach is to define the terms and conditions in such a manner that the scope for disputes is minimized, whereas new ICC (A) provides "All Risks" cover with named exclusions, the new ICC (C) covers the named risks with exclusions. The new ICC(B) is an intermediate cover with extended named risks and named exclusions.

The nature of the risks covered under the THREE Institute Cargo Clauses are drawn as under: Risks:

Loss or damage reasonable attributed to	ICC (A)	ICC (B)	ICC (C)
Fire or explosion	Covered	Covered	Covered
Vessel or Craft being stranded, grounded. sunk or capsized.	Covered	Covered	Covered
Overturning or derailment of Land conveyance.	Covered	Covered	Covered
Collision or contact of vessel, craft or Conveyance with any external object other than water.	Covered	Covered	Covered
Discharge of Cargo at port of distress.	Covered	Covered	Covered
Earthquake, volcanic Eruption or lightning	Covered	Covered	Not-Covered
Loss or damage caused by:
General Average Sacrifice	Covered	Covered	Covered
Jettison	Covered	Covered	Covered
Washing overboard	Covered	Covered	Not-Covered
Entry of sea, Lake or river water into vessel, Craft hold Conveyance, Container, Lift Van or place of storage.	Covered	Covered	Not-Covered
Total loss of any package lost overboard or dropped whilst Loading to or unloading from vessel or craft.	Covered	Covered	Not-Covered
Other risk such as Breakage, Scratching, Splitting, hooks, Holing, tearing, bursting, loss of contents, damage to the containers, Fresh, rain water damage, Heating and extraneous substances, theft, pilferage & non-delivery & other risks not specially excluded in the ICC’A" clauses.	Covered	Covered	Not-Covered

The Company also grants wider cover like Theft, pilferage and non-delivery (TPND) with ICC(C) on payment of additional premium as per tariff.

Anyone or all the perils mentioned below may be obtained with ICC(B) on payment of additional premium.

Breakage, Scratching/Splitting, hooks, holing, bursting, tearing, leakage, Fresh, rain water damage, theft pilferage & non-delivery.

The following additional perils are automatically covered under the new Marine Policy :-

(1) 60 days cover at sea port from the date of discharge from the ship under "A" "B" & "C"

(2) Inland transit by Road, Rail &/or Berge.

(3) WAR & SRCC covers are available on payment of additional premium.

Marine Hull  Insurance (inland): This refers to the ship. That is to say, hull and machinery of the vessel. The ship is always at the risks of the perils of the seas and, therefore, the ship owners can insure it against probable losses as such. The nature of the risk covered as under: As per inland marine hull tariff section no. 23