The MIA 1906 is a very important rule for the practitioner in Korea since it is often selected as the governing law under the contract of cargo insurance. And we are using both the S.G policy and the new MAR policy. The new MAR policy has the basically different form of cover compared with the S.G policy. So we are a little confused whether some risks are covered or not under the selected clauses. The author considers which risks are covered or not under the specific clauses and compares the Institute cargo clauses with the MIA 1906.