Cargo Insurance - ICC Clause Type
Institute Cargo Clauses (A, B, C) coverage selection - level of peril covered for marine cargo insurance.
Coverage scope
All risks except exclusions (war, strikes, inherent vice)
Formula, assumptions, and limits
$$\text{Coverage} = f(\text{ICC clause})$$
ICC(A) all-risks ~0.1-0.3 % of cargo value; ICC(B) 0.08-0.2 %; ICC(C) cheapest. War + strikes separately (SRCC / IWC). Claims bar inherent vice + delay.
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $ICC$ | Institute Cargo Clauses | - | LMA 2009 |
Spotted an error in this calculation? . We acknowledge editorial corrections within two working days.