When packing up your home ready to move, there are plenty of things on the to-do list. One item that is all too often forgotten is insurance for household goods in transit. This type of personal property policy is designed to protect a person’s belongings while in transit. Here we provide an overview of what […]
What are the At and From clauses in transit or marine insurance?
Insurance ‘At’ and ‘From’ clauses are special terms used to refer to certain spots or locations in transit insurance or marine insurance policies. A From clause, such as “from Antwerp to London,” indicates that the voyage will depart from any port between two specified ports, while an At clause designates a specific port as the […]
What is the Pair and Set Clause in marine insurance?
The Pair and Set Clause in Marine Insurance The Pair and Set clauses are a type of marine insurance or goods insurance. It covers losses caused by the partial or total destruction of two vessels owned by the same company. If one vessel is destroyed, both ships receive an indemnity, and they distribute damages between […]
How is CIF (Cost Insurance Freight) beneficial to the seller?
International shipping involves huge risks such as natural disasters, cargo loss, piracy, human error, etc. It is crucial for shipping businesses to avail of good marine insurance to safeguard their shipment financially against such named and unnamed perils in the shipping process. There are many export incoterms used as per the rules of the International Chamber […]
Navigating International Freight Cargo Insurance: Key Considerations and Tips
The shipping industry is exposed to numerous types of risks that can put a business in financial distress. Transporting goods from one place to another involves various potential risks during transit such as accidents, theft, damage, mishandling of cargo natural calamities, etc. Losses can have huge financial consequences. Thus, it is crucial for businesses in […]
How multi-mode Transportation Impacts Marine Insurance Premiums
Multi-modal transport operators have emerged strongly in the shipping and transportation business in the last few years. They play a crucial role in providing comprehensive and cost-efficient transportation solutions by leveraging the various modes of transport. They offer a range of services that include customs clearance, freight forwarding, distribution, and warehousing facilities. However, it is […]
Exceptional reasons for Cargo freight forwarders to opt for cargo insurance cover?
Cargo freight forwarders play a crucial role in the shipping business. They deal with the transportation and logistics aspects of the shipping process facilitating the movement of goods from one place to another. Cargo forwarders are the intermediaries between the shippers and the carriers. In a shipping business, cargo freight forwarders are responsible for various […]
Why Packers and Movers Insurance critical for business continuity?
Businesses face numerous potential risks like damage, theft, accidents, or natural disasters while moving goods in the logistics chain. Logistics insurance is vital as it safeguards businesses against potential risks, and provides financial security to maintain operations smoothly within the supply chain. Logistics insurance is also referred to as packers and movers’ insurance. This insurance […]
Conveyance Insurance Post-Pandemic: Lessons Learned and Future Trends
Conveyance insurance, also referred to as conveyance marine insurance was highly impacted by the Covid-19 pandemic. This was mainly due to disruptions in global trade and changes in shipping patterns and risks. The pandemic led to widespread disruptions in global supply chains. restrictions on goods movement, port closures, and lockdowns caused rerouting, delays, and also […]
What is the general average clause in shipping insurance?
Shipping insurance policies contain various clauses that define the policy coverage, terms, conditions, and limitations. Understanding these marine insurance clauses is crucial for cargo owners, shipowners, insurance companies, and all the parties involved in the contract. The general average clause is one of the important clauses of shipping insurance. In this article, let us understand […]