Name the common ICC cargo insurance forms and indicate which provides the broadest coverage.

• A. ICC A (All Risks) is the broadest; ICC B and ICC C are Named Perils.
• B. ICC B is All Risks; ICC A and ICC C are Named Perils.
• C. ICC C is All Risks; ICC A is Named Perils.
• D. ICC A, B, and C all provide identical coverage.

Answer: (A)

All Risks coverage means the policy will pay for loss or damage to the cargo from almost any cause in transit, unless a specific exclusion is listed in the policy. Named Perils coverage, by contrast, pays only for losses from the perils explicitly named in the policy. In ICC cargo insurance, the form described as All Risks covers a much broader range of risks than the Named Perils forms, which leaves fewer gaps in protection. That breadth is why it provides the broadest coverage. Keep in mind that even All Risks usually has exclusions (such as inherent vice or improper packing) stated in the policy. But the overall idea remains: All Risks covers more potential causes of loss than the Named Perils forms.