THIS COVERAGE INSURES the parcel and its contents against
damage or loss from any external cause, including war risks as per American
Institute cargo clauses (April 1, 1966) as applicable American Institute
strikes (Form 10) while in transit to or from premises utilized by the insured
and in care, custody, or control of carriers listed to domestic destinations,
EXCEPT as hereinafter excluded. Underwriters shall be liable for the invoice
value of property lost, destroyed or damaged, however, in the event there is no
invoice, underwriters shall be liable for the actual cash value of the
U-PIC's coverage does NOT insure the following! Claims for items on the list below will NOT be honored.
- Accounts, bills, tickets, televisions, currency, deeds, evidence of debt, money, notes,
securities, bullion, furs, perishable cargo, or similar property unless
endorsed here on in writing.*
- Merchandise shipped on consignment, memorandum or approval unless shipped in
fulfillment of an order or request.
- Loss, damage, or non-arrival of any parcel of its contents which (a) is
addressed, wrapped or packed insufficiently, incorrectly or contrary to the
carrier's packaging requirements; or (b) bears a descriptive label or packaging
which tends to describe nature of contents. (Customs forms do not negate
coverage. Item ‘b’ primarily refers to manufacturer’s packaging.)
- Against loss or damage caused by or resulting from: (a) hostile or warlike
action in time of peace or war, including action hindering combating or
defending against an actual, impending or expected attack, (1) by any
government or sovereign power (de jure facto), or by any authority maintaining
or using military, naval or air forces; or (2) by military, naval or air
forces; (3) by an agent of any such government power, authority or forces; (b)
any weapon of war employing atomic fission or radioactive force whether in time
of peace or war; (c) insurrection, rebellion, revolution, civil war, usurped
power or action taken by governmental authority in hindering, combating or
defending against such an occurrence, seizure or destruction under quarantine
or Customs regulations, confiscation by order of any government or public
authority or risks of contraband or illegal transportation of trade.
- NUCLEAR EXCLUSION. Notwithstanding anything herein contained to the contrary,
it is hereby understood and agreed that this policy shall not apply to any
loss, damage or expense due to or arising out of, whether directly or
indirectly, nuclear reaction, radiation, or radioactive contamination
regardless of how it was caused. However, subject to all provisions of this
policy, the direct physical damage to the property insured, located within the
United States or any territory of the United States or Puerto Rico by fire
directly caused by the above excluded perils, is insured, provided that the
nuclear reaction, radiation, or radioactive contamination was not caused,
whether directly or indirectly, by any of the perils excluded by this policy.
Nothing in the above wording shall be construed to cover any loss, damage,
liability or expense caused by nuclear reaction, radiation, or radioactive
contamination arising directly or indirectly from the fore mentioned above.
- Arising out of infidelity, dishonesty, or any overt act on the part of the
Insured, associate in interest, and/or any of the Insureds employees whether
occurring during hours of employment or otherwise nor on the part of custodians
(common carriers excepted), or the property insured unless specifically
endorsed hereon in writing.
- Arising out of loss of market, delay, loss of use, clean up costs, decay, or
other deterioration, any remote or consequential loss, whether or not arising
out of a peril insured against.
* Endorsement for Collectible Coins
Effective 11/4/2004, it is hereby agreed and noted that U-PIC will provide insurance
coverage on the shipping of rare, collectible coins. U-PIC will not provide coverage
for items shipped to the following zip codes: 10036, 10017, 94102 and 94108.
* Endorsement For Fine Jewelry Shipping
Effective 11/4/2004, it is hereby agreed and noted that U-PIC will provide insurance
coverage on the shipping of fine jewelry. U-PIC will not provide coverage for items
shipped to the following zip codes: 10036, 10017, 94102 and 94108.
It is WARRANTED by the Insured that all parcels under this coverage will be
shipped in strict accordance with all regulations of the carrier and amendments
THE UNDERWRITERS SHALL NOT BE LIABLE for any loss or damage to property covered
by other valid and collectible Insurance nor for carrier's liability. Coverage
shall be for EXCESS of aforementioned. COVERAGE CONTINGENT upon Insured being
reimbursed by the carrier for carrier's liability.
The DEDUCTIBLE, if any, shall be deducted from the amount of the claim or
Liability Limit, whichever is less, on a "per parcel" basis and borne by the
Insured. The Insured shall be responsible for (and entitled to) collecting any
amount for which the carrier may be liable.
If this Policy is written on a monthly reporting basis, the Monthly Report of
Shipments will be sent to U-PIC
, along with payment for the earned premium due, and the back up declared value
reports within ten (10) days following the end of each month. The Report of
Shipments must show the "Reporting Basis" (listed in the declarations), the
applicable rate and earned premium due. Failure to report all shipments during
any one reporting period could result in a claim being denied. Failure to
insure the total value of your goods on each shipment will result in a
co-insurance penalty, i.e. We will not pay a greater proportion of loss than
the values you reported, divided by the actual values of the goods.
Underwriters reserve the right to audit Insureds books/records at any time
during the normal working hours of the Insured to ascertain/verify the accuracy
of the monthly reports submitted. Failure of the Insured to cooperate with all
reasonable requests will result in suspension of coverage and denial of
The Insured will file notice of nondelivery or damage with the carrier within
the carrier's claim reporting period but in no event shall such notification
exceed thirty (30) days from date Insured had knowledge of said non-delivery or
damage. All claims are to be submitted to U-PIC
within sixty (60) days of receipt of carrier's payment. The Insured will submit
claim form. Proof of carrier payment, copy of carrier tracer form showing
L.D.I. or other identifying number, copy from original invoice to consignee,
whichever of the aforementioned is applicable, and any other documentation that
is requested to substantiate loss. All damaged property for which payment (not
repair costs), or replacement has been made, must, on request, be returned to
Any covered loss will be promptly paid to the Insured or his Assignee after
notice of loss or damage and required documentation has been received and
accepted by Underwriters in accordance with the terms and conditions of this
coverage, unless property is replaced, at the option of Underwriters, with like
kind, function, and quality. There is a 30 day waiting period for packages
shipped via the United States Post Office.
Upon payment or replacement for loss or damage, the Underwriters shall be
subrogated to all of the rights of the Insured including whatever money may be
recoverable, but excluding any deductible amounts applied to any claim
settlement, on account of said loss or damage from the carrier or any of its
officers or agents or from any other person or corporation whatsoever. The
Insured specifically covenants and agrees to assist the Company in every
possible manner to secure reimbursement of said loss or damage.
No suit or action or proceedings for the recovery of any claim under this
Coverage shall be sustainable in any court of law or equity unless the same is
commenced within twelve (12) months after discovery by the Insured of the
occurrence which gives rise to the claim, provided however, that if by the laws
of the State within which this Coverage is issued such limitation is invalid,
then any such claim shall be void unless such action, suit or proceeding be
commenced within the shortest limit to time permitted by the laws of such State
to be fixed herein.
This Policy may be canceled at any time at the request of the Insured or
Underwriters by giving fifteen (15) days written notice thereof, provided
however, that such cancellation shall not affect any shipment already made.
Certified notice of cancellation sent to the Insured at the last known address
shall be deemed sufficient compliance with the conditions of this clause on the
part of the Underwriters.