General Average Security Underwriting Checklist

Purpose

Reusable underwriting/claims checklist for General Average(GA) security exposure in marine cargo insurance. Use with [[2026-06-08]] daily learning note.

Bottom line

GA is not only a claims adjustment issue. It is an underwriting control point because cargo insurers may need to provide security quickly, before final adjustment, while aggregation, salvage, war, sanctions, and documentation uncertainty are still unresolved.

Intake facts to capture

• Vessel name / IMO / flag / class / age / P&I club or insurer.
• Voyage: load port, discharge port, transshipment, high-risk sea areas, war-risk areas, casualty location.
• Cargo: commodity, insured value, invoice currency, packing/container count, temperature or project-cargo sensitivity.
• Policy: certificate number, open cover, limit, deductible, clauses, war/strikes extension, sanctions clause.
• Contract documents: B/L, charterparty incorporation if available, applicable YAR version, law/jurisdiction.
• GA documents: average adjuster circular, GA bond, GA guarantee, salvage security demand, security percentage, deadlines for cargo release.

Referral triggers

• High insured value or multi-certificate accumulation on one vessel/voyage.
• Container ship / RoRo / heavy-lift / project cargo / reefer / aged tanker or bulk carrier concentration.
• War, piracy, blockade, Red Sea/Gulf of Aden/Black Sea or sanctions-sensitive route.
• Casualty involving fire, grounding, collision, engine failure, salvage towage, port of refuge, transshipment, or prolonged detention.
• Unclear YAR version or B/L/charterparty incorporation — 검증 필요.
• Average adjuster requests non-standard guarantee wording or urgent security above expected insured value relationship.
• Insured cannot provide invoice/value evidence, B/L, packing list, or consignee/release documentation.
• Sanctions, legality, payment, banking, or counterparty concerns affect guarantee issuance.

Coverage questions

1. Does the cargo policy explicitly cover GA and salvage charges?
2. Does the deductible apply to GA/security, physical damage only, or both?
3. Are sue and labour, forwarding, storage, on-carriage, and transshipment costs addressed?
4. Is war/strikes relevant to the casualty cause or route?
5. Are delay, loss of market, deterioration, or consequential loss excluded?
6. Does any sanctions/legality clause restrict guarantee issuance or payment?
7. Are there claims cooperation, document, notice, or mitigation obligations that affect response?

Claims handling implications

• Separate physical cargo damage from GA contribution, salvage security, sue and labour, forwarding, delay, and excluded consequential losses.
• Do not assume the requested security amount equals final liability.
• Verify average adjuster identity, shipowner instructions, and security form before issuance.
• Escalate where wording, governing law, sanctions, or guarantee credit wording is uncertain.

AI/DX automation candidate

Build a GA-security triage module that extracts policy clauses, reads average adjuster circulars/forms, identifies missing documents, calculates preliminary exposure vs limits, and produces a facts/inference/assumptions/recommendations memo. The module must flag 검증 필요 rather than approving guarantee issuance.

Source pointers

• CMI — York-Antwerp Rules (YAR): https://comitemaritime.org/work/york-antwerp-rules-yar/
• CMI — GA Guidelines and Security Forms: https://comitemaritime.org/work/cmi-general-average-guidelines-and-security-forms/

Related notes

• [[2026-06-08]]