GlossaryEN1 min readUpdated: Jun 26, 2026

Institute Cargo Clauses B

Institute Cargo Clauses B occupy the middle tier of the standard marine cargo insurance framework, sitting between the comprehensive ICC A and the narrower ICC C.

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Last updated: 26 June 2026Published: 27 January 2026

Source: https://www.lloydslondon.com

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Definition & Explanation

Institute Cargo Clauses B occupy the middle tier of the standard marine cargo insurance framework, sitting between the comprehensive ICC A and the narrower ICC C. Coverage applies to a defined list of named perils: fire, explosion, stranding, sinking, capsizing, derailment, and the entry of sea, lake, or river water into the vessel or container. The named-perils principle means that anything not explicitly listed is excluded—the reverse of the ICC A logic. Losses from spoilage, handling negligence, inherent defect, delay, war, and strikes remain outside the scope of the policy. ICC B suits exporters with moderate cargo values who want meaningful protection against the most common catastrophic events without paying the higher premium that ICC A commands.

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Institute Cargo Clauses B

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Related Terms

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