Your goods, whenever they are moved or stored, are exposed to various risks. This may lead to the loss or damage of your goods, as well as to consequential loss and pure pecuniary loss for your business.
Some of those risks - if foreseeable - may be controlled thanks to loss prevention measures, such as the choice of adequate packaging, appropriate storage, means of conveyance, storage locations, and logistic partners.
Yet, how to act on remaining risks of „unforeseen occurrences“?
We offer to our customers, according to requirements, individual and made-to-measure Marine Cargo Insurance policies for the transport of goods to largely cover „unforeseen“ risks.
What is the subject of a Marine Cargo Insurance?
Regarding Production and Trading Companies
This item includes all international transports and related storages of all goods insured by a policyholder, for its own account or for account of a third party, according to commercial principles.
If agreed, the coverage will also apply to goods and transports contrary to trading terms such as e.g. Incoterms (Contingency Insurance).
The following cargoes could be included in the cover:
raw materials and supplies, operating materials, machinery and assets, exhibits, exhibition stands and equipment
samples, demonstration devices, tools and measures used by traveling sales representatives.
Regarding Logistics Companies
This type of Marine Cargo Insurance for the transport of goods takes effect in cases when policyholders (logistics companies), as ordered, arrange coverage to clients for particularly agreed transports as part of the company’s service.
What risks and losses are usually not covered?
List of examples for standardly not covered risks:
» case of war, civil war, war-like events, strike, lockouts, labour disturbances, riots, civil commotions, terrorist acts and further political perils
» nuclear power and further ionising radiation
» resulting from the use of chemical, biological and bio-chemical substances or electromagnetic waves as weapons
The insurer usually offers no compensation for loss or damage(s) resulting from:
» delay of journey and indirect losses, such as consequential damage to goods
» inherent vice or natural condition of the goods
» customary loss of volume or dimension, as well as weight differences
» usual humidity or ordinary temperature fluctuations
» lack or insufficiency of customary packing
These potential risks and losses can be partially insured by the underwriters agreement.
How can these risks be insured?
The risks can be insured thanks to individual broker conditions and market clauses.
ATS offers special coverage for:
» consequential losses and pure pecuniary losses
» defined political dangers such as war, strike, terror, etc.
» outturn guarantee for volume and weight differences
» industry-specific or transport-related risks (assemblies, contractual penalties, business interruption, etc.)
» your additional individual demand of risk (contingency cover)