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What is the impact of delay on a marine claim?

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Question added by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice
Date Posted: 2014/01/29
Mamoun elbaghir abdalla mhamad Eltayeb
by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

The delay may affect in the quality of the goods insured particulary the preishable goods and also may reduce monetary value of the goods in term of difference in prices of the goods at the original period of arrival which initially fixed in the insurance policy  and the prices at the time that goods are actually arrived to the custody of the insured.

    As delay is excluded from the marine cargo cover, therefore the insured should  claim against the carrier .

     Thanking You.  

mukkur srinivasan varadhan
by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice

If the claim is relatable to the delay, normally repudiation of the claim.Delay is normally an exclusion  in the marine policies.

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