The Silkroad Confiscation Insurance

May 7, 2020

What happens if my goods are confiscated?…

Better be insured!

 

Why do I need this?

Very often this risk is excluded in General Insurance Policies.

What does it cover?

In amendment to Article 6 of the GCMI 2006, loss of or damage to the insured goods as a result of confiscation, seizure or retention by a government, authority or power are also insured.

What do I need to do?

The goods accompanying documents (e.g. consignment note, customs declaration, etc.) have been properly issued and the insured goods have been declared accurately and correctly

All legal import, export and transit regulations or administrative orders of the sender, transit and recipient country are complied with.

What can I expect?

In addition to loss and damage the insurer shall reimburse customs, freight and storage costs incurred in connection with the confiscation, seizure or retention of the goods.

How much does it cost?

It is an additional on top of the Standard Transport insurance premium. Please consult your Atlantic Forwarding representative or make a request directly to claims@zrh.atlanticforwarding.com

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