Own an export business that rules on the sea? If yes, then make yourself aware of why marine insurance is a must-have
Emerging risks in transporting goods via water
Oceans connect continents in the world and thus, they give many opportunities for the transportation of goods as well. However, while sea transport entails many benefits, various hazards go with it as well. Let’s have a look at the risks that are associated with transporting goods via water. Weather Hazards Certain risks in transporting goods […]
Application of Indemnity in Marine Insurance Policies
Insurance policies, except for life and personal accidents, are subject to the principle of indemnity. Marine insurance policies are also contracts of indemnity. The principle of signing the contract in utmost good faith is an important application of indemnity in Marine Insurance Policies. Why do only narrow definitions of indemnity apply to Insurance? As per […]
3 Reasons You Need a Marine Hull Insurance Policy Before Exporting the Next Consignment via Water
So here you are—ready to export your consignment via water. While you are taking all the necessary steps to ensure the safe transit of goods, have you bought a marine hull insurance policy? Marine hull insurance is an essential insurance policy that covers the insured vessel or fleet against various types of losses or damages […]
Seven reasons for buying marine insurance before your next journey
So, here you are—ready for your next transportation of goods. But have you bought a marine insurance policy? If you are the one who thinks purchasing this policy is an extra expense that you don’t require, then it is time to think again. Here we have given seven reasons for buying marine insurance before your […]
Why buy A Marine Cargo Insurance Policy While Trading Across Nations?
The transportation of goods has various risks as it passes from one nation to another. A Cargo Insurance Policy deals with the sea perils associated with the transportation of goods. Hence it is important to protect the assets using a cargo insurance policy while they are in transit from one place to another. There are […]
Marine Hazards Every Exporter & Importer Should Worry About
The marine industry serves as an important connection bridge in international trade, and the cargo vessels are the most efficient, and probably the only means to transport large volumes of finished goods and commodities. In a global economy, bulk carriers are crucial, as they cover a huge range of products. For instance, Coal, Sulphur, Cement, […]
How to Decide the sum Assured in Specific Transit Insurance Policy?
The specific transit insurance policy offers coverage for cargo or goods carried through various modes of transport. This insurance policy offers protection to any consignment for one trip. This means that the protection ceases for this transit insurance policy as soon as the cargo reaches its destination. The major benefit of this specific transit insurance […]
What are the various kinds of Marine Losses?
It is possible to divide marine losses under the following head- Total Loss= It can be further segmented into the below categories: Actual Total Loss- It happens when- Goods damages completely Goods damaged beyond repairing The policyholder is deprived of the insured subject The ship is missing, and there is no trace of it In […]