Transporting goods involves threats, especially for long-distance shipping. Destruction or disappearance of merchandise along the course of conveyance can lead to tremendous financial harm for enterprises and citizens alike. Goods Transportation Insurance stands out as the most economical selection of commercial transportation cover types. Investing in cost-effective transport insurance is beneficial for a business to […]
What is an inherent vice exclusion in transit insurance?
With the rising globalisation, businesses are selling their goods on both domestic and international markets. Business expansion increases transit risks. In cross-border or long-distance transport, potential goods damage threat rises, causing financial losses. Availing transit insurance becomes extremely essential for businesses involved in goods transportation. Understanding coverage scope, exclusions, terms, and conditions is vital when […]
The Specific Cyber-Security Risks Present in Modern Marine Insurance and Protection Against Them
Today the marine industry sector is progressively susceptible to digitalization, operational integration and automation. Given that approximately 90% of the traded goods are transported by the international shipping industry, the safety of shipping vessels is critical to the global economy. In this digital era, the increased importance of IT infrastructure and electronics leads to the […]
How to keep the premium of Inland cargo insurance low?
Deciding on a marine insurance coverage suitable for the business is not an easy task. Specifically, for businesses that operate in the shipping industry and involves the transportation of goods, it is important to have the right and comprehensive marine insurance coverage to safeguard themselves from the financial losses that they may suffer due to […]
Types of Insurance Oil Companies must take for offshore assets.
The oil and gas industry is highly diverse, with numerous subsets requiring specialised insurance coverage. As a result, insurance for oil and gas professionals and businesses can be complex. In addition to standard policies that most businesses use for protection, oil and gas companies require tailored insurance policies to cover specific equipment and services. These […]
Difference Between Marine Insurance and Shipping Insurance
Transporting an object from one place to another always carries a degree of risk. Before accepting this responsibility, it is important to carefully consider the end-to-end delivery process and the parties involved. Financial protection is an utmost necessity for businesses involved in the trade and shipping industry by availing insurance coverage suitable for the business, […]
What are the advantages of freight forwarders’ Insurance over shipping agents’ Insurance?
The delivery of cargo is a complex process that involves thousands of ships, planes, trucks, and trains, moving goods from one location to another. To move cargo from one location to another, companies rely on freight forwarders. Freight forwarder meaning an agency that ships or receives goods on behalf of other individuals or companies for […]
How do you differentiate between express and implied warranty under marine insurance?
A warranty in an insurance policy is a statement of the promise made by the insured to either perform or abstain from certain actions during the policy’s duration. The policyholder affirms or denies specific facts related to the policy. There are two types of Warranties in marine insurance: Express and Implied warranties. This article lets […]
Benefits of Online Marine Insurance
Marine insurance is essential for businesses that transport goods by sea and other various means of transport. Further, there are multiple benefits of Online Marine Insurance in today digital age. It offers protection against financial losses caused by accidents, natural disasters, or malpractice during the journey of the shipment. It also covers loss due to […]
What is salvage value, and how is salvage loss calculated in marine insurance?
Marine insurance is crucial for businesses involved in the trade. A marine insurance policy provides financial protection against the physical loss or damage to the insured cargo, ship or vessel while transporting the property. Marine insurance provides coverage against various marine losses. Though you can get comprehensive financial protection against various marine risks, it is […]