Loss and or damage caused by the above event as long as the motorized vehicle is on board the ship for crossing which is under the supervision of the Directorate General of Land Transportation, including loss and or damage caused by the related ship having an accident.
Every business entity that has an insurable interest both as the executor of the work and as the recipient of facilities from the obligee, such as:
- Contractor / Sub-Contractor, Supplier / Supplier
- Manufacturer and Exporter
The premium rate is set in a percentage where the premium is calculated based on the multiplication of the Collateral Value with a predetermined premium rate.