Security is one of man’s needs in his life and it is one the reasons of insurance advent . Historians and researchers believe that the oldest and primeval type of insurance is “ Naval insurance ” which restored its arising age to medieval . This fact just can be stated about history of porterage insurance that with regard of accidents and happenings during the voyages like submerged , storm , banditry , etc. for their shipping merchandises , the ship owners and merchants began to think of remedy in order to safeguard their capitals and possessions and  for finding a solution for protecting their merchandise against shipping dangers and risks and buccaneers . For this reason (wagering ) and for its sake , if a ship carried safe and sound , the goods owner should warrant payment of a sum of money in this recognition to the ship owner .

From the time that insurance was known as the means for the losses compensation and safe guarding the interests of the owners of capitals and commercial , this new phenomenon rapidly developed and the special laws and diverse codes gradually perfected and used for naval transportation and was as known business and profession in the community .

Nowadays , insurance can be taken into account as one of the important essentials for economic and social life of man’s communities , because all groups in a society such as laborer , employer , merchant , craftsman , investor , employee , house keeper , student , old , young , and child deal with insurance in some way or other . The importance of transportation and its vital role is not just for aspect of commercial and economic ties among the worlds countries , but it allies to dangers that may occur every now and then and fall a victim of annihilation of the enormous wealth in the event that the occurrences of danger may inflict noteworthy and irreparable losses on the economic body of a country .

The History

According to extant documents and evidences , the procedure of insurance was initiated was initiated from the beginning of 20th century by representatives of some foreign insurance companies .

In 1912 for the first time two Russian companies in Iran established agencies . These representatives obviated the merchants need of the field of porterage affairs . Then in 1926 , the number of foreign insurance companies reached to fourteen .

After cession of concession the forming insurance institute to Russian’s “Lazar Poliokov” and cancellation of that , for the reason of non-execution commitment , Iranian insurance was brought up gradually .

Iran Joint Stock Insurance Company “First Iranian Government Insurance Company ” in 1936 was formed with government capital , among the foreign unhealthy competition and with the struggle of people with little insurance knowledge but conscious about its profit , began to work in different branches .

Goods Transportation Porterage Insurance

According to article one , from Iran Insurance Law approved in 1938 : “ Insurance is an agreement by contract in which one undertakes to pay a sum or amount of money to another one in cognition of arising in specified contingencies like accident inflicted losses by paying  specified sum of money . In other words ,transportation or porterage insurance is a kind of agreement by that contract , one side insure in cognition of receiving a sum of money as “insurance premium”, contingencies and inflicted losses on insured shipment the other side “the insured” will compensate according to conditions and contents of insurance policy .

Porterage insurance is classified in three ways :

• Classification on the basis of geographical limits

• Classification on the basis of the type of covering (over lay) insurance

• Classification on the basis of transport method

A . classification on the basis of geographical limits :

1) Outside the country transportation insurance Export - Import Insurance”

2) Inside the country “Interior Insurance”

B. Classification on the basis of the type of covering (over lay) insurance :

This classification was divided into 3  types at a previous time :

1) All risks

2) “WA” With Particular Average

3) “F.P.A.” Free of Particular Average

According to London insurer assembly approved law , since 1 January , 1982 the insurance policy under the conditions of C.B.A. has been substituted instead of  “WA” with particular Average in addition to the aforementioned types , “Total Loss” is another kind of insurance .

C. Classification on the basis of transport method :

This classification is divided into 3 types : naval , air and land transportation.

Naval Insurance

Naval transportation insurance policy will be presented when the goods transported by marine vehicles ( means of transportation as ship , vessel ,barge and the like ) . The dangers in the sea which caused losses in marine vehicle or its cargoes are numerous and various and called under the title of sea accidents . For the reason that in most of the goods transportation insurance , the starting point and the destinations are the land and accidents may occur during the transportation on land which caused by a sea accident or some kind of accidents which are merely on the land .

In marine transportation insurance , insurer will cover the danger of war according to the specified prices and conditions .

In the section of goods , Iran Joint Stock Insurance Company , in the years before the magnificent Islamic Revolution , as the first governmental insurance company issued the insurance policy and reimbursed the losses to the owners of private or governmental goods and in the years after revolution has presented valuable services . The highlights of that in section of marine transportation will be followed :

1) When the imposed war started , for prevention of going out the foreign currency and confrontation against reliance insurers who increased the insurance premium for covering the war danger several times as much the real rate . The Iran Joint Stock Insurance Company in execution of directive of Iran Central Insurance with declaration of unsparing supports to goods owners who had these kinds of the insurance policy for covering war danger with very low prices of reliance insurers , these goods should be transported only to the ports within the range of Iraqi missiles . At the earliest convenience , they paid the losses to private and governmental insured .

2) All special and strategic shipments belonging to the organizations and ministries were insured by Iran Joint Stock Insurance Company has always stated its readiness to present covering insurance for transporting the goods which carried in traditional ways in the Persian Gulf coasts and islands by .

4) Load motor - Launches and marine buoyant as the  first insurance company and performed in this direction .

5) After the beginning of the imposed war and occupation of Khorramshahr Port by Iraqi forces and destruction of all existing goods in aforementioned port , Iran Joint Stock Insurance Company multilaterally struggled hard to settle losses to the goods owners and persuaded the reliance insurers to accept the losses portion and perceive and settle losses .

Ship (Buoyant ) Insurance

In ship insurance , insurer is responsible for compensation of losses on buoyant body and owners responsibility in the teeth of third parties . Therefore , in ship insurance two types of losses will be covered :

A. Inflicted losses on ship .

B. Responsibility resulting from collision .

Furthermore for war danger insurance , body , machinery and crew , are common and will be covered the losses resulting from war . Iran Joint Stock Company with more than 60 years effort on insurance affairs , was counted a strong arm for government of Islamic Republic of Iran , because of doing important and strategic projects in critical junctions . The most important services of this company in connection with marine transportation affairs will be followed :

a. Insurance Plan for Commercial Ships :

This plan was implemented from 1983 till the end of 1986 , because , Bandar Abbas new jetties were in the construction and the ships were constrained to dispatch to destination of Imam Khomeini Port for offloading their shipments . It is necessary to mention that the price of international markets insurers were on the average of five times more than Iran Joint Stock Company , during the years of the aforesaid plan implementation . Therefore , in the event that this type of insurance policies were obtained from international markets , should be paid about $ 200,000,000 as premium . This plan implementation contains economizing currency about $ 150,000,000 .

b. Insurance Plan for Oil Tankers :  

This plan was dealing with rented oil Tanker National Company frequenting between oil terminals of Kharg and Larak islands . During the aforementioned plan implementation , price of current premium in reputable international insurance markets , was five times more than the price of Iran Joint Stock Company . Some of the most important results of this plan were prevention of stand still in exports of crude oil and economizing currency at a rate f about half a billion dollars.

c. Crude Oil Products insurance :                    

Iran Joint Stock Insurance Company was responsible for oil products shipments belong to Iran Oil National Company  from 1988 till 1990 , and all losses were settled . Although they were more than received premium . It is worthy to mention that the high percents of insurance were accomplished beside the international creditable reliance insurers.

d. Buoyant Insurance Plan during the Kuwait Crisis:

During the implementation of this plan , the price of Iran Joint Stock Company was about 30 percent of international prices.

e. Load Motor - Launches and Fishing Insurance:

For preserving the benefits of load and fishing motor - launches owners and spreading out the insurance culture among the aforesaid hard working groups , Iran Joint Stock Insurance Company embarked to carry out the above plan with minimum premium . According to the insurance policy , motor - launch will be insured against main accidents which culminates in annihilation.

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