About 90% of world trade is carried by the international shipping industry.
Shipping is the life blood of the global economy.
Without shipping, intercontinental trade, the bulk transport of raw materials, and the import/export of affordable food and manufactured goods would simply not be possible.
Without shipping, the import/export of affordable food and goods would not be possible – half the world would starve and the other half would freeze!
What Is Marine Insurance?
Marine insurance refers to an insurance contract that covers financial losses arising from the loss or damage of ships, terminals, cargo or any other item aboard from the point of origin to the destination.
This is a broad category which has further classifications that address specified issues
What does marine cargo insurance covers?
Marine cargo insurance covers the loss or damage of goods during land, sea or air transit.
Who can buy?
Anybody who has an insurable interest in the cargo at the time of loss can purchase the insurance. The insurable interest or the obligation to take up insurance is usually determined by the delivery terms, such as Incoterms.
What is the information needed to get a quotation?
Contact us to obtain a “Cargo Fact Find Form”.
Fill in the Cargo Fact Find form & email to use for a quotation.
What are the types of coverage that are available?
You can insure your cargoes under the Institute Cargo Clauses (A), (B), or (C).
Briefly, Clause (A) covers all risks of loss or damage to cargo except delay, ordinary loss in weight or volume, wear and tear, insufficient and unsuitable packing, and inherent vice.
Institute Cargo Clauses (B) and (C) provide less comprehensive coverage than Clause A.
What is a Marine Open Cover?
A Marine Open Cover (MOC) is a special arrangement for customer who has numerous shipments in a month.
All shipments falling within the terms of the MOC is automatically covered.
The insured is required to declare details of the shipment activated within the month and a policy will be issued covering all declared shipments.
Do you insure special cargoes?
Yes, insurance can be arranged for cargoes shipped in breakbulk or bulk consignments.
Can client issue their own policy?
Yes, we have a web based platform for clients to issue their policy.
Clients with frequent shipments and has our Open Cover can request for this service.