Cargo Insurance

Cargo Insurance

An insurance policy that protects the buyer of a good from the loss of that good while it is being transported. Most of the time, when a good is being shipped, either the buyer or the seller is required to purchase cargo insurance (or at least to assume the risk of transit); their specific agreement determines which one is responsible. See also: Incoterm.
References in periodicals archive ?
Since a carrier will charge a higher rate for a higher limit of liability, an analysis needs to be done to see if it may be more economical to purchase a shipper's interest cargo insurance policy than to pay a carrier a higher rate for a higher limit of liability.
With AXA Corporate Solutions' support, it aims to become the region-wide leader in large risks insurance and strengthen its premier cargo insurance status offering world-class insurance products and services, said a report in our sister publication, the Gulf Daily News.
Marine cargo insurance policies cover cargo going in and out of the United States, while inland marine policies cover common carriers moving across the country.
Earlier this year, Stepan switched insurers, picking up an ocean marine cargo insurance policy from Warren, New Jersey-based Chubb Group of Insurance Companies.
From marine cargo insurance that may include temporary storage, war and strike, and terrorism risks to coverage for port, terminal and other cargo-handling facility operators.
Dubai Trade and Abu Dhabi National Insurance Company (ADNIC) have organised a forum to announce the official launch of Tradeshield for online cargo insurance.
The two companies have entered into a partnership in which AXA Insurance Gulf would provide cargo insurance to HSBC Bank customers.
Here are just a few coverage options and useful tips to demystify the cargo insurance conundrum.
Clark will be executive vice presidents, focusing on cargo insurance and hull and liability coverage, respectively.
These measures should be backed up with marine cargo insurance that provides a financial safety net for lost or damaged shipments.