Update of Marine Cargo Update of Marine Cargo Insurance to IraqInsurance to Iraq

Max ZaccarMax Zaccar

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The Present SituationThe Present Situation

Oil for Food Program (OIP)Oil for Food Program (OIP)

Established in 1990Established in 1990

Discontinued on the 22 November 2003Discontinued on the 22 November 2003

Confirmation of delivery now signed by Confirmation of delivery now signed by Cotechna, CPA and Iraqi AuthoritiesCotechna, CPA and Iraqi Authorities

Last shipments October 2004Last shipments October 2004

Cargo to IraqCargo to Iraq

All kinds of civilian cargoAll kinds of civilian cargo

Equipment and spare parts for the country Equipment and spare parts for the country infrastructureinfrastructure

Means of ShipmentMeans of Shipment

AirAir

SeSea

Land

Land Transit to IraqLand Transit to Iraq

All routes to Baghdad are about 600 kmAll routes to Baghdad are about 600 km

Land Transit to IraqLand Transit to Iraq

All routes to Baghdad are about 600 kmAll routes to Baghdad are about 600 km

Dangerous strip is 200 kmDangerous strip is 200 km

Types of ClaimsTypes of Claims

Very few truck accidentsVery few truck accidents

Attacks on cargos for the CPAAttacks on cargos for the CPA

Hijackings of other cargosHijackings of other cargos

Truck CompaniesTruck Companies

Dedicated truck companiesDedicated truck companies

DHL regular serviceDHL regular service

Marine InsuranceMarine Insurance

All Risk for air, sea, landAll Risk for air, sea, land

Land transit All Risks includes Piracy and Land transit All Risks includes Piracy and Malicious damageMalicious damage

WaWar and Strikes

The London clausesThe London clauses

The AWRIS clausesThe AWRIS clauses

Hijackings and TheftsHijackings and Thefts

RecoveriesRecoveries

ConclusionConclusion

Terrorist attacks or hijackings?Terrorist attacks or hijackings?

Insurance conditionsInsurance conditions

Reputable truck companyReputable truck company

Transit in convoysTransit in convoys

Coverage limited in timeCoverage limited in time

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Unless a dramatic Unless a dramatic change occurs on the change occurs on the

security level, cargo to Iraq security level, cargo to Iraq will unfortunately have to will unfortunately have to

travel without insurance in travel without insurance in the near future.the near future.