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 […]
Articles Tagged: Freight Insurance
Navigating International Freight Cargo Insurance: Key Considerations and Tips
The shipping industry is exposed to numerous types of risks that can put a business in financial distress. Transporting goods from one place to another involves various potential risks during transit such as accidents, theft, damage, mishandling of cargo natural calamities, etc. Losses can have huge financial consequences. Thus, it is crucial for businesses in […]
What is Warehouse-to-Warehouse Insurance?
When you are involved in the business of exporting or importing goods from multiple countries. You know the financial implications of losing the cargo in transit due to any reason whatsoever. In the worst-case scenario, loss of goods because of theft, an overturning of the cargo vessel, etc. can even lead a company to dissolution, […]
How to keep the premium of Inland cargo insurance low?
Deciding on a marine insurance coverage suitable for the business is not an easy task. Specifically, for businesses that operate in the shipping industry and involves the transportation of goods, it is important to have the right and comprehensive marine insurance coverage to safeguard themselves from the financial losses that they may suffer due to […]
What is Freight Demurrage and Defence insurance (FD&D) in Marine Insurance?
When it is about securing goods transported from one destination to another, you would want to get them insured before they leave the shore. This is where marine insurance policies come into the picture to provide adequate insurance coverage. If you are thinking transit insurance is as easy to understand as any other type of […]
Incoterms in Marine Insurance: All You Need to Know
Within global trade, goods cross borders to make businesses flourish over time. Depending on the scale at which a business operates, it forms a part of the larger development cycle of the nation. The opportunity to tap into international markets attracts many business owners in our country. But it also makes dubious about various sides […]
Who is Covered Under Multimodal Transport Operator (MTO) Insurance Cover?
Every business has its own legal and client-related liabilities that require careful consideration. The same holds true for transport operators providing national and international logistics solutions to clients from different industries. In particular, the challenges related to the work of Multimodal Transport Operators or MTOs are quite complex. They are engaged in transporting goods via […]
Cargo versus Freight Insurance: What’s The Difference?
Customers often confuse the terms ‘freight’ and ‘cargo’ as they are used interchangeably. This confusion leads to questions about the difference between cargo insurance policy and freight insurance. Both insurance plans aim to protect goods during transportation from damage or loss. They cover goods transported internationally or domestically through various modes like sea, air, land, […]
What is Freight Insurance? Know about it’s features and benefits
A freight insurance policy insures the total or partial value of the cargo. The insurance is provided by a third–party company. The policy would be exclusive to the specific freight shipment and shipper. The structure of freight insurance is similar to that of a general insurance policy. Why do shippers need Freight Insurance Policy? The […]
Why do You Need Marine Insurance Policy?
Insurance is needed to maintain the financial integrity of your life and business. Hence, we need a marine insurance policy. Marine insurance, by this definition, will be needed if the risks you seek cover from are related to marine activities, such as: Transportation through oceans and waterways The building, maintaining or operating of water-going vessels, […]