It is essential that a loss is recoverable only by an insured who at the time of loss has an insurable interest in the goods.
In the marine area If Industrial concentrates on products protecting your risks for loss or damage to goods in transit, or in intermediate storage in conjunction with an insured transit.
Consequential losses due to a cargo loss can be covered by our Marine Consequential Loss insurance. In addition we provide insurance for Freight Forwarders covering the freight forwarder's legal contractual liability to their principal.
Cargo Insurance
The purpose of cargo insurance is to cover goods in transit - during land transport as well as transport by sea or air.
Cargo insurance can be effected on different conditions by using various clauses. All the conditions have one thing in common; the goods can only be insured against unexpected, fortuitous losses. A loss which can be considered a certainty rather than an accident – such as normal wear and tear – cannot be insured against.
Carriers' and Forwarders' Liability Insurance
The purpose of carriers' and forwarders' liability insurance is to cover the carriers' and forwarders' liability regulated by national and international legislation and conventions.
Freight forwarders are exposed to a broad variety of liabilities in respect of the services they provide to their customers. Different liabilities are applicable for transit by sea, air, road or rail.
The modern freight forwarders need to accept other liabilities, as for an example, liability for operators of temperature-controlled equipment, warehouse owners and intermodal operators. Third Party Logistics and Internet Businesses are also becoming more frequent responsibilities for freight forwarders.