Reporting a claim immediately is crucial. Clients must report claims or incident that might give rise to a claim as soon as you receive knowledge about an incident that may give rise to a claim. Due to the severe consequences of late reporting, if a client is in doubt whether or not to report a potential claim, they are strongly recommended to do so. Some insurance policies or contracts contain a general time bar provision giving a time limit of 30 days or 3, 6, 12 months to report an incident or file a claim.

YOUR DUTIES IN THE EVENT OF A LOSS:

1. Immediately take all possible steps to minimize the loss and protect the property and/or the subject matter insured from further loss.

2. As soon as possible contact our office by any means available and not later than 24 hours give Air & Sea Insurance Corp. written notification of the loss and its circumstances.

3. Comply with any reasonable request made of you by Underwriters or their Agents with regard to the loss.

4. Advise the Police, Coast Guards, Port Authority or any appropriate authority of the loss, incident, accident and its circumstances immediately.

5. Give Underwriters or their Agents an opportunity to examine the property before it is repaired or discarded.

6. Submit a claim form and/or statement and/or records to substantiate the amount of the loss.

7. Never assume obligation, or admit liability without underwriter’s written permission.

8. Immediately forward to Underwriters or their Agents any legal papers or notices received in connection with the loss.

9. Cooperate with Underwriters and their Agents in the investigation, defense or settlement of any loss and agree to be examined under oath if so requested.

10. Allow examination by physicians of Underwriter’s choice if so requested. Assist Underwriters or their Agents in obtaining copies of medical records and reports.

11. Provide Underwriters or their Agents a notarized statement or statutory declarations.

12. Provide Underwriters or their Agents a Proof of Loss and Discharge of Liability once the amount of the claim under this Policy or insuring agreement has been agreed with you.

13. It is a condition of any Policy or insuring agreement that if you have the right of recovery from another party who is responsible for a loss that is settled under this Policy or insuring agreement, all rights of recovery will belong to the Underwriters.

14. Give Underwriter’s proof of your compliance with statutory and IMO regulations, insurance warranties, Coast Guards regulations, classification society recommendations, if applicable.

Failure to comply with the above duties may invalidate your insurance coverage or reduce the amount of any recoverable claim. Please always disclose all material facts to Underwriters.

IMPORTANT CARGO CLAIMS PROCEDURE:

You must inform us, as your Brokers, as soon as you feel that you have grounds for believing that a claim is likely to be made under this insurance.

Documentation for Claims

To assist you in formulating a claim, we detail below the essential documents that are required:

1) The original certificate of insurance or other documentary evidence of coverage or where no document is issued but declarations have been made or instructions to effect insurance issued, such declarations or instructions should be identified and a copy supplied if requested. Where declarations on an individual basis are not normally made but insurance is adjustable on the basis of periodic or annual totals a declaration should be prepared incorporating a statement that it has been or is to be incorporated in the periodic or annual total applicable.

2) Original or copy of Shipping Invoices, together with Shipping Specifications and/or Weight Notes.

3) Original Bill of Lading and/or other Contract of Carriage or Consignment Note.

4) Survey Report or other documentary evidence to show the extent of the loss or damage.

5) Landing Account and Weight Notes at final destination.

6) Correspondence exchanged with the carriers and other parties regarding their liability for the loss or damage.

It is the duty of the Assured and their Agents in all cases to take such measures as may be reasonable for the purpose of averting or minimizing a loss and to ensure that all rights against carriers, bailees and other third parties are properly exercised and preserved. Copies of all letters holding other parties liable for loss or damage together with any other correspondence should be sent to us as soon as possible.

General Average or Salvage Bond

In the case of ship owners declaring General Average, it is essential that the Assured contact the Broker immediately, as failure to do so could result in delay in receiving the consignment from the ship.

INSTRUCTIONS

It is a condition of your policy that in the event of a loss this letter is sent to all companies who had contact with your cargo both nationally and internationally. Type this letter on your letterhead filling in the appropriate ____________. Address a separate letter to each company.

DATE: _________________

COMPANY: _____________

ADDRESS: ______________

ADDRESS: ______________

ADDRESS: ______________

ADDRESS: ______________

Attention: ______________

Re: _________________ TYPE OF LOSS & DATE OF LOSS

Dear _________________ RECIPIENTS NAME:

On _________________ DATE OF LOSS our company suffered a cargo loss that may have happened while in your company and/or your agents care, custody & control.

Until investigators determine otherwise, we are holding all parties fully responsible including your company and/or your agents.

Should you have any information or evidence regarding this loss, please notify us immediately.

In the mean time, we greatly appreciate your co-operation in this matter by confirming your receipt of this letter.

Sincerely,

_________________ YOUR NAME

Air & Sea Insurance Corp. will advise you as soon as possible of insurers’ requirements concerning claims, including the provision of additional information required to establish the nature and extent of a loss. We will provide you with any assistance in submitting a claim and seeking to obtain reimbursement for you.