DTV-Gueter Cargo Insurance Conditions
The German GDV model cargo insurance conditions, 2000/2011, and how they define the insured value, imaginary profit and underinsurance.
The DTV-Gueterversicherungsbedingungen 2000/2011 are the model marine cargo conditions published by the German Insurance Association (GDV) for optional use. German marine insurance is contractual because the Insurance Contract Act (VVG) excludes marine insurance in section 209.
The full article will cover the full-cover and named-perils variants, the insured value definition in Ziffer 10.2, imaginary profit at 10% by special agreement (Ziffer 10.3), separately insurable interests such as duty and freight (Ziffer 1.1.3), and underinsurance (Ziffer 17.5). The cargo insured value article covers how this topic affects the sum insured on a cargo policy.