Marine Insurance
Marine insurance covers the loss or damage of ships, cargos, terminals, and any transport by which the property is transferred or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance; though Marine insurance also includes but not limited to Hull. The marine insurance department issues various polices to cover:
- The hull i.e. The vessel itself.
- The cargo i.e. What the vessel is carrying.
- The freight i.e. The sum paid for transporting goods or for the hire of the ship.
- Liability towards third parties (Marine Casualty/ Marine Liability).
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Marine Insurance
Marine Cargo
What is Marine Cargo insurance?
Marine cargo Insurance is the insurance of property as it moves from place to place. From the factory, to the final destination, transporting your goods will be worry free, with a Marine Cargo policy. Whether your cargo is travelling by air, sea or overland, a Marine Cargo policy covers against the many risks of loss or damage. So, if a loss is incurred, you will be fully compensated according to the terms of the policy.
With the rapid expansion of global and domestic trade, the business of moving cargo today is becoming increasingly complex. Protect your shipments against the uncertainties that can arise, wherever in the World they may be.
What is the coverage?
Our marine cargo insurance provides cover for virtually every type of commodity, destination and mode of transportation. We recognize that the nature of your business is unique and we offer you flexibility in creating cover that fits your needs.
Under cargo section we can provide covers for different risks such as:
- Single Transit Cargo Policy
- Open Cargo Policy
- Project Cargos
- Stock through puts (STP)
- Haulier’s Liability
- Freight Forwarders Liability
