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What is Marine Cargo Coverage?
Marine Cargo insurance covers the risks of loss, damage, expenses and liability to goods insured during transportation, caused by a wide range of perils. Covered transportation of goods includes transit by sea, air or land, anywhere in the world.
Coverage is usually on a “per voyage” basis, from the time the goods leave the seller’s premises until the time they arrive at the buyer’s premises.
How does it work?
Marine Cargo Insurance is to indemnify the cargo owner (which can be a buyer or a seller) and/or the financiers (such as the banks) against financial loss resulting from physical loss, damage, expenses incurred or liability from the transportation process.
Applicable for business enterprises and corporations, subject to the insurer’s risk acceptance