Insurance claim process

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Zurich insurance

Switzerland insurance company, our cooperative company is Zurich insurance Beijing office

Merits: 1. Insured people can be Chinese citizens

2. Fragile cargo can be assured

3. There’re more insured countries

Deductibles: ＄200 for ordinary cargo, it’s absolutely deductible.

＄200 or 2% of insured amount (the higher one is prevail) for E-products, mobile phones and digital products, they are absolutely deductible.

＄200 or 2% of insured amount (the higher one is prevail) for fragile products, they are absolutely deductible.

Insured countries: all included except for following countries

Iran, Burma, Cuba, Sudan, Syria, Liberia, Iraq, Laos, North Korean, Cambodia and Algeria.

Restricted conditions:

1. The ensured is not allowed to buy insurance again if they bought the insurance before shipping of cargo or at the shipping date.

2. Foreign companies and individuals are unable to buy, they’re requested to offer container quantity and destinations.

Voyage scope: express: warehouse to warehouse, i.e. take insurance liabilities from customer’s warehouse to the destination where customer signs after receiving. If an agent make customs clearance at destination, then it can be treated as being signed by customers.

Air transportation and shipping: if destinations are developed countries, insurance coverage shall be warehouse to warehouse, customs clearance as well as signing after receiving and following delivery also belong to the coverage.

If destinations are developing countries or underdeveloped countries, insurance coverage shall be warehouse to port, i.e. take insurance liabilities from customer’s warehouse to airport or seaport for discharging. Storage at the port and transportation to customer’s warehouse are not included.

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AIU Insurance Company

American insurance company, our cooperative company is AIU property insurance Co., Ltd Shenzhen office

Merits:

1. Accept insurance of both domestic and abroad companies who must possess business license.

2. More claim settlement websites, can make compensation at destinations.

3. Faster claim settlement speed of China’s party.

4. The ensured is allowed to buy insurance again within 3 days before cargoes arriving at destination or if haven’t received any damage information.

Deductibles: belong to absolutely deductible.

1. ＄230 or 5% of damage, the higher one is prevail.

2. Electrical products such as MP3, MP4, digital and security products

＄1200 or 15% of damage, the higher one is prevail as for theft and robbery as well as failure to deliver

＄450 each accident as for other damages

3. ＄300 or 5% of insured amount, the higher one is prevail as for LCD and LED lamps.

Insured countries: all included except for following countries

Afghan, Burma, Cuba, Iraq, Iran, Liberia, North Korean, Sudan, Syria, Zimbabwe, Algeria, Albania, Angola, White Russia, Bosnia, Hercegovina , Cango, Croatia, Ethiopia, Ivory coast, Nigeria, Rwanda, Sierra Leone, Somalia, Slovene Balkan, Yugoslavia and other countries and regions ruled by U.N. or America.

Restricted conditions:

1. Only cover company customers including domestic and abroad companies, not including individual customers.

2. Not including fragile cargo.

3. Large deductibles pointing at failure of delivery as for theft or robbery of electrical and digital products.

4. Not including special line products.

Voyage scope: express: only take insurance liabilities of 5 express companies of EMS，DHL，UPS，TNT and FedEx from receiving goods to signing after receiving by express company.

Air transportation and shipping: if destinations are developed countries, insurance coverage shall be warehouse to warehouse, customs clearance as well as signing after receiving and following delivery also belong to the coverage.

If destinations are developing countries or underdeveloped countries, insurance coverage shall be warehouse to port, i.e. take insurance liabilities from customer’s warehouse to airport or seaport for discharging. Storage at the port and transportation to customer’s warehouse are not included.

Chubb Insurance

American insurance company, our cooperative company is Chubb insurance (China) Shanghai office

Merits: 1. Relative low insurance charge

2. No deductibles as for ordinary cargo

3.Only cover shipping transportation

Deductibles: belong to absolutely deductible.

1. No deductibles as for ordinary cargo

2. ＄1000 or 10% of damage as for such high value products as electrical ones, the higher one is prevail.

Insured countries: all included except for following countries

Afghan, Burma, Cuba, Iraq, Iran, Liberia, Libya, North Korean, Sudan, Syria, Zimbabwe, Algeria, Albania, Angola, White Russia, Bosnia, Hercegovina , Cango, Croatia, Ethiopia, Ivory coast, Nigeria, Rwanda, Sierra Leone, Somalia, Slovene Balkan, Yugoslavia and other countries and regions ruled by U.N. or America.

Restricted conditions:

1. Only cover shipping transportation

2. Not including mobile phones, MP3 and digital products, while including electrical component, ornament home appliances and safety equipment

3. Only cover company customers who are requested to offer address listed on business license.

4. Being requested to offer Ref. No, it can be any one of invoice No, cabinet No, or container No.

Voyage scope: shipping: if destinations are developed countries, insurance coverage shall be warehouse to warehouse, customs clearance as well as signing after receiving and following delivery also belong to the coverage.

If destinations are developing countries or underdeveloped countries, insurance coverage shall be warehouse to port, i.e. take insurance liabilities from customer’s warehouse to airport or seaport for discharging. Storage at the port and transportation to customer’s warehouse are not included.

Ming An Insurance

Hongkong insurance company, our cooperative company is Ming An property insurance Co., Ltd

Merits: Even countries ruled by U.N. such as Iran, Iraq, Cuba and North Korean are entitled to buy.

Deductibles: belong to absolutely deductible.

＄2000 or 20% of damage, the higher one is prevail as for theft and robbery as well as failure to deliver

＄2000 or 10% of damage, the higher one is prevail of each accident as for other damages

Ensured scope: any countries that not at war, please consult insurance recorders if you want to purchase insurance of any sensitive countries.

Restricted conditions:

You can buy from this insurance policy as for all insured countries that AIU and Zurich can’t accept insurance. If any terms that’s unable to fulfill in this insurance policy, it can be transferred to other appropriate insurance policy.

Voyage scope: refer to Zurich insurance

Insurance process:

Insurance classification: following business divisions are tacitly approved insurance on condition that no application or request ahead

＄300-1000 package declaration to AIU insurance company

＄1000-30000 Zurich insurance

Over ＄30000 AIU insurance company

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Attention:

All cargo insurance that foreign invested companies can’t accepted shall apply at Ming An insurance

Please notice recorders to make change before or at shipping date if needed.

Divisions of channel purchases

Express 2 kinds including with and without insurance certificate: the business with insurance certificate means filling out insurance purchasing form before shipping, then send to insurance recorders who will take record basing on the information above and issue insurance certificate. On the other hand, the business without insurance certificate needn’t fill out the form, but recorders will make package application to insurance company within high-value cargos, there’re no insurance certificate and operation cost. Cargoes with over ＄300 declaration or application value shall purchase insurance certificate compulsorily.

Air and sea shipping 2 kinds including with and without insurance certificate: please notice insurance information to operators after placing an order if need certificate or package application, then the operators transfer the information to insurance recorders who will extract relevant information and report to insurance company. No compulsory purchase.

Insurance recorders will check ambiguous insurance order with business operators. The business without cargo value or other information will be stated in Sinotec’s monthly insurance statement, then mail to managers.

Functions of insurance certificate: we all know one function is for issuing LC, the other is to make certain whether we have purchased insurance for customers.

You shouldn’t worry about whether package declaration will take effects, so long as we ‘ve made declaration to insurance companies, no matter on website or by package, they are all included in insurance coverage scope.

Requirement for insurance: if the business need apply for insurance certificate, the related information shall be sent to insurance recorders before 4 pm each day, and before 11 am on Saturday. No compulsory purchase to express cargoes of the same trade.

Modification of insurance information: if need to modify insurance certificate due to incorrect business information offered, each modification will deduct insurance cost of CNY10 to the account of Sinotec.

Currency regulations of insurance: Zurich will adopt Renminbi (RMB) since Aug. 15th, 2011. Other insurance companies use U.S. dollar (USD). If the insurance is purchased by other currency, please notice insurance recorders in advance.