Riyadh-Mubasher: Arab National Bank (ANB) has renewed a marine cargo open cover policy on a declaration value basis with Metlife AIG ANB Cooperative Insurance Co.
The agreement covers the cargo of the letter of credit clients of Arab National Bank.
The contract's value is based on the shipment value which will be known at the time of coverage.
The total value of the contract in the previous period was SAR 1.6 million ($43,000).
The policy is effective for one year starting from 8 March 2016.
