Institute Cargo Clauses B (ICC B) is a named-perils marine insurance policy covering cargo against specific listed risks — fire, explosion, sinking, collision, capsizing, and general average — offering broader protection than ICC C but excluding theft, pilferage, and non-delivery, making it a mid-tier coverage choice for Indian exporters shipping non-fragile, lower-risk commodities.
What ICC B Covers
Fire or Explosion – Loss/damage from fire or explosion aboard the vessel or during storage.
Vessel/Craft Stranded, Grounded, Sunk, or Capsized – Physical loss from major vessel casualties.
Overturning or Derailment of Land Conveyance – Covers road/rail transit accidents.
Collision – Vessel or conveyance colliding with any external object.
Discharge of Cargo at Port of Distress – Loss during emergency unloading.
General Average Sacrifice – Contribution toward loss when cargo is deliberately sacrificed to save the voyage.
Jettison – Cargo thrown overboard to save the vessel.
Washing Overboard – Loss of cargo swept off the deck.
Earthquake, Volcanic Eruption, or Lightning – Natural catastrophe cover.
Entry of Sea, Lake, or River Water – Water damage into vessel, container, or storage place.
Total Loss of Package Overboard/During Loading or Unloading – Complete loss of an entire package while handling.
What ICC B Excludes
Theft, pilferage, or non-delivery
Willful misconduct of the insured
Ordinary leakage, wear and tear
Inadequate packing
Delay-related losses
War, strikes, riots, and civil commotion (require separate add-on cover)