Bangladesh Marine Insurance Rate. What is Marine Insurance? Marine insurance includes the loss or destruction of ships, cargo, terminals, and any transportation or cargo by which property or home is shifted, acquired between the items of source and final location. Marine Insurance System has been designed all over the risks of shipping beverages.
Marine insurance rate in BD and Special premium Rates for export oriented garments industries within/or outside of export processing zone for import of raw materials & Machinery including spare parts as under:-
ICC- 'A' 1.12%
ICC- B 0.40%
ICC- B + ND 0.65%
ICC- B + TPND 0.75%
ICC- C 0.30%
ICC- C + ND 0.55%
ICC- C +TPND 0.65%
The above special rates will equally apply for imports of all other industries within Export Processing Zones given earlier to export oriented garments industries within EPZ.
N.B. (1) Coverage against Fresh and/or rain and/or River water damage including condensation in ship's hold will be subject to the following general warranty:-
"Excluding Rust and/or Oxidation and/or discoloration unless caused directly by a risk covered by the policy"
(2) Items 1, 2, 7, 9, 11 and 17 would be subject to the "Institute Replacement Clause" if covered for Breakage and under Clause 'A'.
(3) Item 3 would be subject to "Cutting Clause" if covered for the risks of Breakage under Clause 'A'.
Rate Schedule No. 2
For transit by Rail/Lory/Truck only other than rice and wheat
100% export
Oriented industries
From any place of India
1. Rail/Lorry/Truck risk @0.60% 0.40%
2. Rail/Lorry/Truck all risk
a) Commodities as per Schedule 'A' @ 1.75 1.30%
b) Commodities as per Schedule 'B' @ 1.50 1.05%
c) All other items @ 1.15% Except rice and wheat 0.80%
SCHEDULE 'A'
EXTRA HAZARDOUS/FRAGILE CARGOES
1. Gunpowder
2. Ammunition
3. Celluloid
4. Spirits
5. Acids of all sorts
6. Sanitaryware, Earthenware, Porcelainware, Glassware, Tiles and Bricks, Asbestos Sheets and Ridges graphite.
7. Matches
8. Crackers and fireworks
9. Electrical tubes, Bulbs, Valves, Switch fuses, Switch gears and distribution boards, Fuse units, Insulators, X-ray tubes and plates and Photographic plates.
10. Glass sheets and/or plates, Special and/or molded glass items e.g. Wind-Screens, Wired Glass etc.
Bangladesh Marine insurance rate revised Marine Tarriff Rates for Both EPZ and outside EPZ of 100% Export Oriented Knitwear Industries (BKMEA)
Marine (Import) | Premium Rate |
ICC- 'A' | 0.70% |
ICC- 'B' | 0.26% |
ICC- B + ND | 0.45% |
ICC- B + TPND | 0.50% |
ICC- 'C' | 0.19% |
ICC- 'C' + ND | 0.36% |
ICC- 'C' + TPND | 0.43% |
BY Lorry/Truck/Rail- Form India
Premium Rate | |
Rail/Lorry/Truck risk only | 0.28% |
Rail/Lorry/Truck all risk a) Commodities as per Schedule 'A' b) Commodities as per Schedule 'B' c) All other itmes | 0.80% 0.65% 0.50% |
BY Air
Premium Rate | |
Air risk only | 0.15% |
Air risk ND | 0.30% |
Air risk TPND | 0.45% |
ICC 'Air' (Air All Risk) | 0.50% |