Individuals and businesses engaged in trade are exposed to numerous risks, including cargo theft, damage, accidents, and natural calamities during transit. These unexpected risks can cause significant financial losses and disrupt the supply chain. Marine insurance is crucial in safeguarding cargo, vessels, and other maritime assets from these potential risks. Marine insurance has a long […]
Articles Tagged: Cargo Insurance
Marine Insurance vs. Freight Insurance: What’s the Difference?
Marine and freight insurance are essential for shipping, logistics, and transportation businesses. Global trade and shipping of goods expose businesses to various risks and unpredictable conditions. Having adequate insurance ensures protection against financial losses, improves cash flow, and helps businesses comply with contractual requirements and trade regulations. However, businesses need to understand the difference between […]
Transit insurance for household goods
When packing up your home ready to move, there are plenty of things on the to-do list. One item that is all too often forgotten is insurance for household goods in transit. This type of personal property policy is designed to protect a person’s belongings while in transit. Here we provide an overview of what […]
Principles of Ratemaking in Marine Cargo Insurance
Marine insurance policy grants protection against the loss or damage of cargo, ships and terminals between the point of origin and to destination. Individual insurance accounts are important for setting marine insurance rates. The underwriter’s judgment and personal evaluation are very important in setting these rates. There are various factors that influence the risks. Here […]
What do you mean by Contingent Cargo Insurance?
Contingent cargo insurance is a specialised type of insurance that protects shippers and logistics companies from financial losses due to unforeseen events during cargo transportation. Addressing exclusions and limitations enhances conventional cargo insurance and guarantees thorough risk management. What is Contingent Cargo Insurance? Cargo insurance meaning covers losses or damages to cargo not insured by […]
Why cargo forwarder dealing in perishable goods, should buy insurance for cargo?
Freight cargo insurance is a type of marine insurance coverage that gives protection to cargo forwarders against potential losses to the cargo that may arise from various risks. This coverage typically applies to all modes of transportation – air, road, rail, and waterways. There are various types of coverage available insurance for perishable cargo. It […]
What is a special cargo insurance policy in Marine insurance?
An adage, ‘’Prevention is better than cure,’’ holds good for businesses involved in shipping. Cargo shipping poses risks like theft, damage, and human error, necessitating coverage for natural disasters and mechanical failures. With advanced technologies and new developments in international trade, the risk to cargo shipping has increased. The shipping industry is growing with the […]
What Is International Cargo Insurance & why should you consider buying it?
International trade involves sending goods overseas via rail, road, sea, or air. Today, international trade is the norm with globalisation and online shopping. However, the transport of goods over great distances invites great risk. Hence, international cargo insurance is the best way for businesses to protect their investment. What risks do businesses face when shipping […]
What are the important features of Specific Transit insurance?
Marine insurance is an important requirement for the smooth functioning of businesses involved in the shipping of goods. This insurance reassures their customers about having cover against damage or loss due to various marine perils. In this article, we will get to know about the important features of Marine / Transit Insurance. Marine insurance provides […]
Running an export/import business in India? Here’s why you need marine insurance
Choosing the right marine insurance policy for your export and import business in India requires marine insurance for all the right reasons. Get to know them here.