Coverage / Marine and trade
Marine cargo and stock throughput
Goods are most at risk where the paperwork changes hands.
Goods in transit by sea, air and road, and stock held in warehouses.
01 Scope
What it may cover
Subject to wording. Insurers differ; a sound policy answers these three points.
Physical loss or damage to goods in transit, on Institute Cargo Clauses.
Stock at warehouses and processors between voyages.
General average and salvage contributions.
02 Placement
What affects price and terms
Underwriters price what they can see. These facts come first, so we present them before they ask.
Annual shipment values by route, commodity and mode.
Incoterms used, which set where risk passes to the buyer.
Packing, temperature control and theft-prone commodities.
Maximum value at any one location or vessel.
03 The underwriting file
What we need from you
- Shipment declarations or annual values by trade lane.
- Standard Incoterms with major buyers and suppliers.
- Warehouse locations and peak values held.
- Claims history with surveyor reports.
A complete file reaches more markets and returns firmer terms. Gaps are priced as uncertainty.
04 At renewal
Common gaps at renewal
01Incoterms not matched to cover
Selling CIF means insuring for the buyer. Buying FOB means the risk starts at the port of loading.
02Accumulation at one warehouse
Peak stock at a single location often exceeds the per-location limit.
03Sanctions clauses unread
Routes touching sanctioned territories can void cover. Trade lanes should be checked each year.
Often placed with
Ready when you are
Send us the risk the last broker could not place.
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