Marine Cargo Insured Perils

Marine Cargo Insured Perils

Pacific Union’s Margo Cargo Insurance is designed to protect you from the financial risk of transporting goods via land, sea, and air. But what exactly are these dangers and how do we define them? Here, then, are the Marine Cargo Insured Perils for everyone’s reference.

Perils of the Sea

Collision

Collision occurs during physical impact between two ships which results in a damaging accident. At the same time, it can also occur between a ship and a stationary object such as an iceberg or a port. 

Fire

Fire is defined as direct fire loss or caused by fire or lightning attributed to negligence. This includes damage done by measure to extinguish the fire. (ex. Water damage)

Stranding

This happens when forced by accidental causes to take ground and stay aground within a reasonable time. 

Shipwreck

A shipwreck is when a vessel is driven to shore by violent winds and/or waves that cause destruction or loss of the said vessel. 

Foundering

Occurs when vessel is filled with water and sinks.

Jettison

This refers to the throwing of a ship’s cargo or gear as a measure to preserve the ship and cargo from loss in time of common danger. 

Barratry

Barratry is defined as every wrongful act willfully committed by the master and crew to the prejudice of the owner of the ship, or the owner of the cargo. 

Pirates, Rovers & Thieves

Finally, rovers and pirates are persons without legal commission who plunder vessels indiscriminately on the high seas. Thieves refer to the persons who use violence to commit robbery. This does not include ordinary theft or pilferage. 

In-Land Perils

Basic Coverage

In-Land Basic Coverage covers multiple perils which include:

  • Accident fire whether internal explosion or self-ignition
  • Lightning
  • Explosion
  • Collision
  • Overturning or upset of the conveyance
  • Collapse or subsidence of bridge
  • Flood
  • Storm
  • Cyclone
  • Mishandling during actual loading and unloading
  • Breaking into conveyance whilst conveyance is parked overnight

Robbery & Thievery (Extension)

Robbery is defined as the felonious act of taking property through the use of violence and intimidation. On the other hand, thievery refers to the unlawful or violent seizure by armed persons of the scheduled conveyance.

Support Education Program

Support Education Program

Pacific Union believes in its core values and among them is the values of Continuous Excellence and Empowerment. For the former, we believe in performing to the best of our ability, always striving to process and produce our work with the best standards. For the latter, on the other hand, we believe in our workforce – where each member of the team is valued and inspired to work as a collective whole.

And so one of the latest innovations created by Pacific Union’s management was to create a program that would help our Head Office – one that would teach them various skills and insights that could help them both in their personal and professional space.

This led to the creation of the Support Education Program: Pacific Union’s monthly training designed to foster each member of the team into becoming the best they can be. These sessions take place every Friday and once a month where over the course of two hours, a highly qualified instructor teaches our team different lessons and skills. This is an optional yet highly informative seminar, covering topics such as customer service, time management, Ikigai, and many more.

As a bonus to our Head Office, the seminar provides food and drinks while there is a raffle every session. There is even a grand prize given to a select few who manage to attend every session of the Support Education Program. In short, the 2023 SEP was a big success for Pacific Union – gathering different members of our various departments where they have been imparted with invaluable information.

This 2024, Pacific Union continues the Support Education Program, this time with the goal of a more holistic approach and a broader range of topics. This year’s SEP will be covering topics such as the Victor vs. Victim Mindset, customer service etiquette, and more to come that will surely be a huge help to every member of the team.