Insurance
The Letter of Credit will indicate what insurance cover is
required, and will state whether an insurance policy or a
certificate is needed.
An insurance policy may only be issued by the insurer and is usually
in standard form covering the customary risks for any method of
transport (Lloyd's MAR policy is normally used).
Regular Exporters can organise an open policy to cover all exports
during a specific period. Individual insurance certificates are
issued for each shipment by either the insurers and/or the Exporter.
This certificate must contain the same details as the policy, with a
shortened version of the provisions of the policy under which it is
issued.
An example of a Certificate of Insurance in PDF format*
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