Marine Cargo Accident of Steel Coil
Enterprise A effected marine cargo insurance with insurance company B at the insured amount without VAT. Accident happened on the steel coil of enterprise A in the process of transportation and incurred loss amount of goods about RMB200,000 yuan and salvage value of goods was RMB150,000 yuan, altogether without VAT.   
Enterprise A handed related materials to insurance company B and the latter concluded the amount of indemnity = value of goods without VAT - salvage value of goods with VAT=200,000-(150,000+150,000*17%) = RMB24,500 yuan
Anguo pointed out that enterprise A cover insurance on the basis of insured amount without VAT, so the salvage value should be calculated without VAT that is the amount of indemnity =original value of goods without VAT- salvage value of goods without VAT=200,000-150,000 =RMB50,000 yuan
After negotiation, insurer B proposed that the damaged goods were under treatment, the output VAT was less than input VAT, after standard deduction, remaining amount was still existed, that is an income for the client. so the amount of indemnity = original value of goods without VAT- residual value of goods without VAT - (VAT of original value of goods - VAT of selvage value of goods) =200,000-150,000-(200,000*17%-150,000*17%)= RMB41,500 yuan
Although insurance company has adjusted their calculation method but Anguo sticked to persuade them to make compensation in terms of subject matter loss on the insurance policy namely original value – salvage value( material income), irrespective of indirect loss or income beyond the scope of subject matter.
Finally insurer B had agreed with Anguo and paid RMB50,000 yuan to the client.

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