This Insurance product provides coverage for goods shipped by sea, air, or land against total or partial losses as per coverage provided under the policy, either within KSA or imports/ exports to and from KSA, Wala'a offers the following insurance solutions to meet the clients' needs:
Marine Open Cover: covers all shipments in transit falling within an agreement between the client and Wala’a for specific period of time (usually one year) and the client is required to periodically declare to Wala’a with the description, quantity, and value of goods shipped during that period.
Marine Single Shipment: covers only a single shipment in transit as agreed between the client and Wala’a for specific period of time where the description, quantity, and value of goods shipped in that shipment should be declared.
Land Transit All Risks: covers goods inland transit by Rail or Road against All risks of loss or damage except those caused by risks expressly excluded under the policy.
Land Transit only – Road Risks covers goods inland transit by Rail or Road against limited risks: fire, collision overturning, and derailment breaking down of bridges, or accidents of like nature.
This policy provides coverage for damages to a vessel’s hull and on-board equipment.