Under Open cover, Open Policies and Floating Policies, do the insurance companies always issue Certificate of Insurance for each shipment?
English
In the case of ‘Open Cover’ the underwriters will issue Specific policy/Certificate of Insurance against each and every declaration submitted by the insured. However, in case of Open policy for import/ export shipment, individual certificate will be issued with appropriate stamp duty. If ‘Open Policy’ is issued for inland transit, issue of certificate of insurance is not mandatory.
Product Name:
Commercial Risk Insurance
Date:
Thursday, February 8, 2018
