Cargo insurance

To get the best insurance solution

for your company.

Contact us
Insurance cover for goods in transit.
During land transport as well as transport by sea or air.

  • A designated client team

    Ins​urance, risk management and claims specialists.

  • Insurance service online

    Onl​ine service wherever and whenever you need it.

  • Solid and financially strong

    Your ​risks are carried by a solid and financially strong company.

Essential for cargo insurance

It is essential for cargo insurance that a loss is recoverable only by an insured who at the time of loss has an insurable interest in the goods.


Incoterms

The insurable interest or obligation to take out insurance is usually determined by a term of delivery, such as Incoterms​.

High risk areas

In certain high risk areas the insurance cover is in force only when agreed upon in advance with If P&C Insurance Company.

Cargo Insurance conditions and clauses

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.​​​​​​​​​​​​​​​​​​​​​​

Cargo ISPS Endorsement and Cargo ISPS Forwarding Charges Clauses

Security code ISPS (International Ship and Port Facility Security Code) issued by the International Maritime Organisation (IMO) entered into force in July 2004. This security code originates from the 11 September 2001 terrorist attacks in the US and the purpose of it is to prevent or at least to minimise the threat of maritime terrorism. In accordance with the security code all ports and vessels in the international traffic have to comply with the ISPS requirements.

Consequently, London market has produced two new insurance clauses that we have adopted as of 1 January 2006. The following clauses will be included in all cargo insurance policies: Cargo ISPS Endorsement and Cargo ISPS Forwarding Charges Clause (see the enclosures). In accordance with the clauses the cargo insurance does not cover damage occurred during transport on a vessel without the ISPS code if the policyholder was aware of the non-existent ISPS code or did not demand it when agreeing on the contract of carriage.

Wareho​use risks in USA and Canada

(USA & Canada Endorsement Race)

The cargo insurance does not cover damage caused by radioactive pollution, nor by chemical and biological weapons. After the accident of Tshernobyl and the WTC catastrophe, the limitations were revised into their present extent, but the regional legislation of USA and Canada has been changed after the events in 2001.

Fires in risks in certain areas of these countries must always be insured notwithstanding the cause of the fire.Therefore, an additional clause has been drawn up at the London market and is included in all cargo insurance policies since 1 January 2006. The clause is applied to the warehouse risks in USA and Canada. The clause will cancel the limitation where it is conflicting with the local legislation.

The additional clause is: U.S.A. & CANADA ENDORSEMENT FOR THE INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE 10/11/03. We will refer to the clause as USA Canada Endorsement Race.


Cargo Insurance Clauses

Cargo Insurance Restrictions

​​​​​Sanction Clause​

Domestic conditions Cargo Insurance

Summary of regulations

Summary of regulations

Applicable rules for limitation of liability and notice of loss for different modes of transportation.

Local regulations

​​

Marine insurance products and services