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Custom
Shipping and Insurance
Dec
2025 Examination
Q1.
Nexus Equipments Pvt. Ltd., a manufacturer of precision tools in Pune,
regularly ships its products to different parts of India and abroad. It has
recently taken the following orders:
1.
A one-time shipment of high-value machinery from Pune to Kolkata by road for an
exhibition.
2.
Multiple monthly dispatches of tools to a distributor in Chennai over the next 12
months.
3.
A large consignment of finished goods(more than Rs 2 Crores) to be sent from
Pune to Mumbai port, then exported to Dubai by sea. This consignment is part of
an annual export contract requiring 15–20 such shipments a year.
4.
Occasionally, the company also receives urgent bulk orders requiring ad hoc
dispatches to various cities across India without prior planning.
The
company wants to ensure all goods in transit—both domestic and
international—are adequately insured and is exploring suitable marine insurance
policies.
Apply
your knowledge of marine insurance policies to recommend the most appropriate
type of policy for each of the four shipment scenarios mentioned above. For
each case, clearly mention:
-
The type of policy recommended (Inland Transit, Specific Policy, Open Policy, or
Special Declaration Policy)
-
Why it is suitable for that particular shipment (10 Marks)
Q2.
TransGlobe Exports Pvt. Ltd. deals in exporting a wide variety of goods to
international clients. The company recently received three large export orders:
-
One for perishable dairy products to be delivered urgently to Singapore.
-
Another for industrial steel coils weighing 20 tons to be sent to South Africa
with flexible delivery time.
-
A third order for electronic gadgets worth Rs.5 crores to Germany, with a
delivery window of 7 days and high insurance value.
The
logistics team must choose the most appropriate mode of transport—sea, air, or
land—for each shipment. The final decision must balance factors like speed,
cost, product nature, destination, and risk. Based on the case above, explain
how a company like TransGlobe selects a suitable mode of transportation for
each type of cargo. Discuss the key factors that influence such decisions and
justify the ideal transport mode for each shipment with proper reasoning. (10
Marks)
Q3(A).
Elegant Electronics Pvt. Ltd. imported a consignment of LED panels from Korea.
The goods were insured under a marine cargo policy. During inland transit from
the port to their warehouse, the panels were damaged due to the transporter’s
poor handling. The insurance company paid Elegant Electronics for the loss and
later initiated legal action against the transporter to recover the
compensation amount. Explain how the principle of subrogation applies in the
above case. (5 Marks)
Q3(B).
Mr. Mehta applied for a marine insurance policy to cover a consignment of
delicate electronic items being transported from Mumbai to Chennai. While
completing the proposal form, he failed to disclose that a part of the
consignment had suffered minor water damage while in storage prior to dispatch.
The insurer, unaware of this fact, issued the policy. During the transit, the
consignment suffered further damage due to rough handling, and Mr. Mehta filed
a claim for the entire value of goods. Explain how the principle of Duty of
Disclosure applies in the above caselet. (5 Marks)
Dear students, get fully
solved assignments by professionals
Do send your query at :
or call us at :
08263069601
(Plagiarism proofed assignments
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