CII M90 Practice Questions - Cargo And Goods In Transit Insurances (M90) Exam

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What key change was introduced in Incoterms 2020 regarding default insurance cover requirements under CIP compared to CIF?

CIP requires minimum cover under ICC (C), whereas CIF requires ICC (A) CIP requires 'All Risks' cover under ICC (A) by default, whereas CIF retains minimum cover under ICC (C) Both CIP and CIF now mandate Institute War Clauses as a compulsory default CIP no longer requires any insurance coverage to be arranged by the seller

Correct Answer:

CIP requires 'All Risks' cover under ICC (A) by default, whereas CIF retains minimum cover under ICC (C)

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