All Risk Insurance | Total Loss Insurance for Ocean Marine Cargo, Air Freight & Inland Marine Shipments Coverage against cargo damages & losses There's no greater myth in the transportation industry today than being told, "Your cargo is fully insured - don't worry". While the carriers are required by some regulatory agency to obtain cargo insurance coverage of some type - you may find that the minimum coverage offered by the transport companies falls short of the true value of your cargo. Ocean shipping lines are only responsible for up to $500 per "package" which can be considered a pallet, a crate or even a whole container. Air carriers, rail operators and trucking companies have the similar rules when it comes to their shipment liability. Also their insurance policies exclude many factors that can lead to potential freight damages & financial losses and there's no federal regulations on standard clauses.

We offer a simple solution to provide shipping insurance for your cargo during international shipping or domestic transport via ocean, air & land.

● Cargo insurance for all destinations and all commodities offered by the USA- based underwriters with A.M. Best rating "A+X Superior" ● Discount cargo insurance rates, full value freight coverage, instant online cargo insurance quotes ● All Risk insurance & Total Loss insurance coverage for all types of transport: ocean marine, air, inland marine, land & rail. ● All major international shipping and cargo insurance terms explained ● Receive the Certificate of the Insurance in digital format ready for printing

CARGO INSURANCE COVERAGE COMPARISON TABLE

TOTAL LOSS INSURANCE (F.P.A. OR CLAUSE C) - warranted free from particular average. When used: lower rate; waste paper, scrap metal, bulk commodities; not concerned about theft, partial loss. ALL RISK INSURANCE (CLAUSE A) - against all risk of physical loss or damage from any external cause. When used: most shipments; broader coverage.

Cause of Loss TOTAL LOSS ALL RISK Stranding ■ ■ Sinking ■ ■ Burning ■ ■ Collision ■ ■ Fault of Vessel Management ■ ■ Bursting of Boilers ■ ■ Latent Defects of Hull ■ ■ Explosion ■ ■ Water Damage ■ Heavy Weather ■ Ship's Sweat ■ Condensation ■ Improper Stowage by Carrier ■ Theft or Pilferage ■ Non-delivery ■ Breakage or Leakage ■

Please, refer to the policy for actual terms and conditions. This is a guide only and not i

Cargo Insurance "All-Risks" Coverage

"All-Risks" is the most common form of cargo insurance. An "All-Risks" policy insures approved general merchandise against risks of physical loss or damage from external causes. Approved general merchandise includes new packaged goods listed in the commodity schedule. "All-risks" policies, however, do not cover all losses possible in the course of an international shipment.

All-Risks coverage protects cargo in transit from door-to-door. This means the cargo is covered from the time it leaves the shipper's door until it arrives at its final destination, as long as it is not taken out of normal course of transit by the insured. Consider the following transaction:

Cargo leaves Dallas for transit to Houston Upon arrival in Houston, the cargo is loaded on a vessel destined for Singapore Upon arrival in Singapore, the cargo is loaded on a feeder vessel for transit to Indonesia, its final destination

If the shipper purchased all-risks, warehouse to warehouse insurance, the cargo would be covered from the time it left Dallas until it arrived at consignee's door in Indonesia.

This is the most comprehensive type of transit insurance available. However, it is important to remember that this broad coverage maybe negated by the terms of the sales contract. For example, goods being shipped CIF Hamburg are insured by the seller until the cargo passes over the rail of the vessel in Hamburg. Any further transit within Germany should be insured by the buyer as the seller no longer has an insurable interest in the cargo.

Typical Exclusions in an "All-Risks" Policy 1 Improper packing 2 Abandonment of cargo 3 Rejection of goods by Customs 4 Failure to pay or collect accounts 5 Inherent vice (infestation or loss due to the nature of the product itself) 6 Employee conversion or dishonesty 7 Losses due to delay or loss of market 8 Loss amount in excess of policy limits 9 Losses at port city more than 15 days after discharge of cargo 10 Losses inland more than 30 days after discharge of cargo 11 Losses in South America more than 60 days after discharge of cargo 12 Barge shipments 13 Goods subject to an on-deck bill of lading 14 Losses caused by temperature or pressure (air shipments)_ 15 Failure to notify air carrier of preliminary loss in timely fashion. a) Obvious damage - 7 days

b) Hidden damage - 14 days

c) Non-delivery - 120 days

16 Used goods

Cargo Insurance Free Of Particular Average.

Free of Particular Average (FPA) Coverage, American Clause

Sometimes because of the nature of a product or because of the shipping conditions, only limited coverage can be obtained. FPA, Free of Particular Average, is a limited coverage that usually applies to used merchandise, waste materials, and goods shipped subject to an on- deck bill of lading. It covers partial and total losses due to specifically named perils like stranding, sinking, burning or collision of the vessel. While FPA is not a complete as "all- risks" coverage, it is better than having no insurance at all.

A good way to remember this coverage is "the only losses that are covered are specifically named." When your shipper has a commodity not very susceptible to loss except for catastropic causes, FPA is a cost-effective insuring option. The shipper will have protection for a catastrophe and for General Average, should either occur.

Partial Loss Total Loss FPA Perils Covered Coverage Coverage Heavy weather, lightning, barratry of the Master or 1. Not Covered Covered Mariners, assailing thieves except

While on deck if a direct result of standing, sinking, Covered Covered burning, fire or collision While underdect, if the vessel strands or is burnt during the Covered Covered insured voyage or if loss or damage can reasonably be attributable to fire or collision 2 Fire or explosion Covered Covered 3 Vessel or craft being stranded, sunk or burnt Covered Covered 4 Accident to an air or land conveyance Covered Covered Collision or contact of a water borne conveyance with any 5 Covered Covered external object (ice included) other than water 6 A General Average sacrifice Covered Covered 7 Bursting of boilers; latent defects in hull or machinery Covered Covered FAults or errors in the navigation or management of the 8 Covered Covered vessel (within the meaning of Section 3 of Harter Act)0 9 Discharge of cargo at a port of refuge or distress Covered Covered Fumigation of the vessel, dock or wharf while the 10 Covered Covered merchandise is aboard or on docks or wharves 11 Washing overboard or jettison Covered Covered While ashore, sprinkler leakage, earthquake, cyclone, 12 hurricane, collapse of docks and wharves and flood Covered Covered (meaning the rising of navigable waters) Total loss of any package during loading or unloading 13 Covered Covered from the overseas conveyance

With Average

With Average basically extends FPA coverage to include protection from damage caused by exceptionallly heavy weather. Both FPA and WA are often extended to include theft, pilferage and non-delivery. Please contact Roland Int'l Freight Services for assistance with these alternate coverages.

Coverage Comparison

The following is a comparison of perils and whether they are coverd under FPA, WA, or All- Risk Coverage.

All- Peril WA FPA Risk Collision or contact of the conveyance with external object Covered Covered Covered Discharge of cargo at port of discharge Covered Covered Covered Fire and Explosion Covered Covered Covered General Average and Salvage Charges Covered Covered Covered Jettison Covered Covered Covered Overturning or derailment of land conveyance Covered Covered Covered Vessel or Craft stranded, grounded, sunk or capsized Covered Covered Covered Earthquake, volcanic eruption, lightning Covered Covered

Entry of sea, lake or river water into vessel, craft, container, etc. Covered Covered or place of storage Total loss of package lost overboard, or whilst loading or Covered Covered unloading from vessel or craft Washing Overboard Covered Covered

Breakage and other physical loss or damage from any external Covered cause Contact with other cargo Covered

Deliberate damage or destruction Covered

Fresh Water Covered

Hook damage, mud, grease Covered

Improper stowage by shipowners Covered

Non-Delivery Covered

Pilferage Covered

Ship sweat, steam of hold Covered

Theft Covered

Frequently Asked Questions

Who is CargoInsurance.com and how can they help my company save money?

CargoInsurance.com is a trusted website focused exclusively on helping cargo shippers find the best possible coverage and rates for all types of shipping. We make it easy for you and the insurance carriers to connect and determine the best insurance coverage for your needs. Once you fill out the lead form on our site, we will pass your information to relevant insurance professionals who will then contact you. Whether you are shipping goods for the first time or are a frequent shipper, you need to make sure your assets are protected in the event something happens to your cargo.

What is Cargo Insurance?

Cargo Insurance is a shippers insurance policy covering one or multiple cargo shipments by air, rail, land or sea. Exclusions for this coverage are nuclear disaster, wear and tear, war, mold, losses because the shipment is delayed and if there is no longer a market for the cargo being insured.

Is there a cost to fill out a lead form on the CargoInsurance.com site?

Filling out a lead form on our site is absolutely free! Our goal is to simply connect you with insurance agents and carriers that can your purchase cargo insurance.

Can I purchase cargo insurance for goods shipped anywhere in the world?

Yes, cargo insurance can be purchased to protect your cargo. This applies to both domestic and international cargo shipments.

What types of items can I insure?

Typically, items such as cars, jewelry, electronics, computers, fragile goods, food and plants are all acceptable things to insure. There are other items as well so you need to speak with your carrier about the specifics of what you want to insure.

Is filling out a lead form on your site safe and secure?

The safety and confidentiality of your data is critically important to us. We take all precautions to ensure the data you submit on our site is protected.

What do you mean by the term Transit insurance?

Transit Insurance provides coverage for the goods while it is being transported from one location to the other.

If the freight carrier itself is offering insurance, is there any need for separate insurance?

Your cargo insurance requirement may be different from the coverage from the policy offered by your transporters. Your own separate insurance will be customized to serve your purpose best; ensuring sufficient limits of liabilities and providing consolidated claims handling.

How is inland transit different from ocean cargo coverage?

The domestic transit of goods through land or by air is covered by inland transit insurance. On the other hand, freight that is being transported via international ocean or air routes (including the land connecting conveyance) are covered by the ocean cargo insurance on warehouse to warehouse basis. However, freight transported in a domestic vessel also come under this policy.

What does the term warehouse to warehouse imply?

It is a term given to the coverage offered for the shipment insurance. This coverage implies protection from the beginning of the transit, warehouse of the shipper, until the cargo reaches its destination, customer’s warehouse. The origin and destination locations are included, even if they are far away from the ports where the loading or unloading is done. What does an open marine policy denotes?

This type of coverage is indispensable for those who require to move their freights on a regular basis. This policy offers coverage to all the freights transited within its scope. The premiums can be paid monthly, quarterly or annually. The client do not require to report each freight being transited to the provider for coverage but need to declare the shipment in a bulk for a specific time and date. For this policy, the client needs to send the insurance provider all required information about the business, the details about the shipments, limits of cargo needed to be transited and the specific destinations. Any change in the limit of the cargo transported or its limits or destination must be reported in advanced to the insurance company.

How is Certificate of Insurance different from an Accord form insurance certificate?

The certificate of insurance together with other shipment documents is required to collect claim settlements. It is required by the banks for credit transactions. Meanwhile, the Accord Form is just a proof of the coverage.

Why is War Risk Insurance required?

To safeguard shipments from risk factors such as war, riots, strikes, civil commotions, etc. It is recommended to buy a War Risk Insurance with an extra premium as most marine cargo insurance policies do not cover the goods against these perils. These War Risk factors and the rates of the premiums are determined by the American Market War/SR&CC Schedule or the London Market War Risks Rating Committee based upon the social and political environment of these countries. These said committees are responsible for updating the war rates whenever needed.

What do you mean by a General Average?

Expenditure incurred to protect the ship and cargo or a loss incurred by a voluntary forfeit of any part of the vessel, such as in the case of JETTISON, or willingly dumping material from a ship in order to protect other cargo/ property from damage. When a general average is declared by the ship owner, the loss must be shared by all cargo interests on the basis of pro-rata. The marine cargo insurance covers such losses.

What does a FPA (Free of Particular Average) implies?

FPA covers your cargo against the complete losses incurred by marine perils. It also covers partial losses in certain cases except general average losses. This is the most restraint type of cargo insurance policy available in the market. The FPA coverage is referred as C Clauses or Institute Cargo Clauses C.

What do mean by a with average policy or the B Clauses?

This policy offers a more extensive coverage than the FPA covering the losses incurred by the sea perils, even the partial losses if they reach at least 3% of the insured value.

What does an all risks policy implies?

This policy provides coverage against all transportation perils. However, it does not covers the loss, delay or damages incurred by war, strike, civil commotions, riots, loss of market or the integral deficiency of the freight unless mentioned specifically.

What does a bill of landing mean?

The bill of landing has a threefold role. It acts as an agreement between the vessel owner and the shipper delineating the accountability of the carrier, a receipt by the vessel owner for the cargo and as a detail of title to them.

What does Incoterms mean?

It is a document defining the liability of the buyers and sellers which is recognized by all the courts and custom authorities of the major business nations. This includes definitions of trade and it is produced by the international Chamber of commerce. The Incoterm mentions specifically the responsibilities of the buyers and sellers while loading or unloading, therefore lowering the risk of disputes and misunderstandings considerably.

What information is needed by the underwriters to put together a precise quote?

To help the underwriters provide you with a competitive rate you need to make available information such as:

 The business operation details of the Insured Information about the destinations and ports including the inland transits before loading and after clearance, especially if the distance is long and transportation is inferior.  Information about the factors to which the freight might be susceptible to, such leakage, breakage, wetting, sweating, theft, pilferage etc.  Importers or exporters who wish to arrange their own insurance, need to supply underwriters with the details about tonnage, age and ownership of the vessel, packaging methods involved ,extent of the journey, and the time of the year the journey is to begin.

What is uberias fides?

This is a joint reliance while negotiating the coverage policy. The insured need to unveil all the aspects needed to put together an accurate coverage. Any violation by any of the parties can result in the cancellation of the contract.

What happens if a shipment is under-valued for insurance purposes?

The cost of the cargo announced for coverage must reflect its true value or the claim settlement may be prorated to a much lesser value. Then the insured might have to act as a co-insurer to provide an optimum coverage for the shipment.

What needs to be done on the discovery of damage to a cargo?

When the damage or the loss of the shipment is discovered, follow the instructions printed on the insurance certificate and immediately report the loss to service providers and notify intentions to claim a loss. Also contact the surveyors to visit the destination to investigate the cause and extent of the losses. Brokers will also assist in starting the process of establishing claims. What should be the insured role while establishing a claim for a loss?

The insured should act truthfully keeping nothing concealed while making his claims. They must act as a far-sighted uninsured.

Marine Cargo Insurance; Cargo Insurance; Ocean Marine Insurance

A important element associated with international sales involves protecting the merchandise against loss or damage while in transit. Marine cargo insurance policies, also known as transit insurance or cargo insurance, compensates exporters in the event that the carrier contracted to ship the goods does not cover a loss. Whether the importer (buyer) or exporter (seller) is required to purchase or pay for the insurance for the merchandise depends on the terms agreed upon between the parties. For example, if the seller is contracted to deliver merchandise to the buyer FOB (Free On Board), then the buyer is responsible for insuring the goods against risks while in transit. Carrier and shipping firms are not automatically required to provide insurance for cargo they are contracted to deliver.

Obtaining transit insurance is a straightforward process that many insurance firms and freight forwarders will provide. Frequent exporters often use an open cargo policy, which can provides coverage from warehouse to warehouse, depending on the terms the shipment. This provides automatic coverage for the merchandise throughout the shipping process. These policies usually provide all risk, in addition to warehouse-to-warehouse coverage, and similar coverage for airfreight and parcel post shipments. Policies for one-time shipments are also available. These are often used by infrequent exporters that arrange for this coverage with their freight forwarders. With few exceptions (bulk agricultural products & hazardous materials), it is usually preferable for exporters to use only warehouse-to-warehouse or door- to-door insurance policies for whatever risks are being covered. This assures that all transit points are covered.

Insurance costs vary according to the type of coverage, the dollar limitation of coverage, extent of coverage, the risks specified, the risks excluded, and any additional coverage requested by the purchaser. Typical coverage for a policy is 110% of the CIF (Carriage, Insurance, & Freight) value. This is a common level of coverage, since it is required by the provisions of letters of credit as described in the UCP 500.

While specific marine insurance policies for individual shipments are available, it may be preferable to use a freight forwarder's open marine policy. For regular exporters, the principal form of transit insurance is the open cargo policy with warehouse-to-warehouse coverage contracted directly with a marine insurance broker.

Terms and Conditions of Marine Cargo Policies:

General Average Loss

This type of policy provides compensation in the event that the carrier declares the shipment lost under general average. For example, should a ship's captain need to dump cargo in the event of a disaster, declaring a loss under general average would spread the losses proportionally among those with cargo aboard, even if specific merchandise on board was not insured against loss. This coverage will pay for any loss over and above direct marine losses, following a determination by insurance adjusters of the proportion that is due based upon the losses of other claimants.

Free of Particular Average (FPA)

FPA coverage is used by sellers to cover shipments where any loss to the cargo is considered a total loss to the insured. This policy provides protection against the total loss of cargo and the partial loss due to disaster at sea, but only under special circumstances. Determining the difference between total and particular loss required evaluating the presumed depreciation in value of the merchandise due to damage.

Free with Average (FWA)

FWA similar to FPA, except that FWA is more inclusive and covers partial losses without requiring restrictions upon the nature of a disaster at sea if losses exceed three (3) percent. Additional coverage can be added to a FWA policy to provide broader protection for the merchandise in transit.

Airfreight Insurance

This policy is designed to supplement the risk for shipping by airfreight. Carriers are liable for only $9 per pound of shipment in the event of an air disaster. An exporter can obtain an additional valuation charge, which increases the liability to the carrier at cost of approximately $.40 per $100 of liability.

All Risk Coverage

This is a general coverage policy that is more expensive and therefore more inclusive in its coverage. However, all risk coverage does not include specific risks associated with other, extended coverage policies. For example, all risk policies do not provide coverage for loss resulting from: war, strikes, riots, civil commotion, and currency depreciation.

Extended Coverage

These are open cargo policies that frequent sellers often favor. Open cargo policies provide coverage for a variety of modes of transport, and protect the goods from warehouse to warehouse.

Strikes, Riots, and Civil Commotion (SR&CC) Coverage

This is an additional coverage policy frequently added to other types of policies. It provides coverage against losses to the stated risks. Determining if this policy is needed should be done on a case-by-case basis depending upon the nature of the shipment, its intended destination and the stability of the places where the merchandise in question will be transshipped through as well as the destination point.

War Risk

This is a unique policy coverage often issued in conjunction with other transit policies. Because the rates charged for this policy can fluctuate wildly in the event of a war, this is often written as a separate policy. Many insurance companies will not issue this type of policy in the event of shipments to areas where hostilities are imminent.

Currency Exchange Risk

In the event of a currency crisis, the seller can obtain this policy, which covers losses to unexpected changes in currency exchange rates. Many exporters find it simpler and safer simply to hedge against foreign exchange fluctuations through arrangements with their banks. These financial arrangements are generically called hedging against foreign exchange risk.

FOB (Free On Board) or FCA (Free Carrier) Sales Endorsement

This covers transit risk from the point of origin until title transfers, when the seller relies on the buyer to insure the goods in transit. Used with Free on Board (FOB), Free Along Side (FAS), and Cost & Freight (C&F or CFR) quotes and endorsed on open marine policies.

Contingency Insurance

Regardless of the shipping terms and whether title to the goods may have passed to the buyer, there are still other less assessable risks that the seller may face even with the appropriate marine insurance risks covered. These usually relate to the buyer's coverage on an FOB or similar shipment. In these cases, there is no way for the seller to know if the buyer insured the shipment. If not, the consequences to the seller could be serious in the event of damage or loss of the shipment in transit. Other issues that concern the seller include these:  Even if the buyer did insure the cargo, how complete is the coverage?  How reliable and financially sound is the insurance company?  In what currency will the claim be paid?  Can the foreign insurer transfer funds out of its own country to pay the claim with reasonable promptness?  Even though the policy may be assignable, is it only payable in the buyer's country? These issues can be solved by means of contingency transit insurance coverage. It costs a fraction of regular insurance and is designed to protect a seller that reasonably relied on the buyer to insure the merchandise, but sustained a loss because of inadequate coverage from the buyer.

Contingency insurance covers situations in which the FOB sales endorsement otherwise would have served had it been in force. Nevertheless, it may not be necessary to purchase this insurance in all situations. It depends on the seller's knowledge of the coverages and the carrier, and how critical a potential loss might be.

Contingent Cargo Insurance While it is true that contingent cargo insurance is not absolutely required, it is something that freight brokerages of all sizes should consider getting. A lot of shippers will not even do business with freight brokerages because of all the risks posed by delivering any sort of shipment, no matter what the size. Even though it isn’t legally required, any freight brokerage that wants to be truly successful will need to think about getting this type of insurance so they will be able to do business with as many different clients as possible. A lot of shippers make the mistake of thinking that they will be able to sue in the event that a shipment is damaged or hijacked, but that is actually not the case. With contingent cargo insurance you will be able to prevent being sued by disgruntled shippers that what compensation in the event that something happens to the cargo that is being shipped. Cargo that goes all the way across the country or even overseas are especially at risk for being damaged or stolen, which is why it is so important to make sure you have the right insurance to help you out.

Those brokerages that sign a binding contract with a shipping company to take on responsibility for transporting cargo will need to have this type of insurance to protect them completely in the event that something goes wrong. In the event that you forget to update your insurance and something goes wrong such as an entire shipment of something being damaged or stolen, you will have to take on full financial responsibility for it. This can be a disastrous situation for a lot of brokerages that cannot afford such a mistake or incident. In order to avoid these kinds of problems, it will be necessary for you to look into the different contingent cargo insurance policies that are available. Keep in mind that there are going to be a lot of different choices so you should consider all of your options before making a final decision as to what you want to get.

With everything that can go wrong between when a shipment goes out and when it arrives, it is certainly important to make sure you get the right coverage. While it is not legally required, most brokerages will find that they will have a hard time obtaining shipping clients that are willing to do business with them if they do not have this type of coverage. When you are looking for the most cost-effective policy, you will need to think about going online and seeing what is available to choose from. There will be different companies that you can look at and it’s crucial to make sure that you choose one which will work for you in the event that you need to file a claim. There is nothing worse than having an insurance company that tries to fight you tooth and nail when a claim is filed, which is why it is so crucial to make sure that you do everything you can to get a great company that will be on your side when you need them the most.

A majority of these policies cover theft and various types of damages, but it is still very important to make sure of exactly what the policy you get states. There will no doubt be a lot of technical jargon and fine print to read through, so you might want to consider using a lawyer to before you go ahead and sign anything. This way you can make sure that you are getting the best deal possible and everything you need to keep risk down to a minimum with your business. Just remember that a lot you might not expect can happen which is why you should do everything you can to get the best deal overall.

It really does not matter the means of transportation that the cargo is going through, whether it is land, sky, or sea; you should have some type of coverage that will reduce your overall risk and protect your business financially so you do not have to worry about being ruined by an accident or incident of theft. Before you make a decision about which carrier you choose, it will be necessary to look at the kind of rates charged by each one. The last thing you want is to pay more money per month for your insurance than you absolutely need to, so you should look online as much as possible before making a final decision.

Contingent Cargo What You Need to Know About Insurance for Transportation Brokers and Freight Forwarders

Since 1956, RJ Ahmann Company has been a premier provider of insurance for transportation and freight businesses nationwide. Who should have contingent cargo coverage? Whether you arrange for the transportation of goods across the nation or around the globe, there's always a chance the product won't make it to its destination or may be damaged in transit. Thefts, accidents and sinking ships can wreak havoc to your bottom line. To protect your profit from these losses, a customized cargo insurance program is essential. If you own, manage or operate any of the businesses in the segments below, you should consider speaking to a commercial cargo insurance expert:  Transportation brokers  Freight forwarders  Importers and exporters  Logistics providers Contingent cargo insurance has two objectives: 1. It protects your assets and your business reputation. 2. It enhances and protects your relationship with customers. Here are two examples of how contingent cargo insurance saved companies from experiencing significant losses:  A garment broker arranged for a carrier to transport a load of apparel. The carrier drove the truckload of clothing to the terminal to handoff the shipment to a long-haul trucker. His truck was temporarily left unattended and the entire load of clothing was stolen. Like many policies, the trucker's policy excluded garments and apparel. The broker's contingent cargo insurer paid the claim at a cost of $235,000.  A carrier picked up load of frozen beef, and while in transit was involved in an accident. The truck insurer erroneously denied the claim. RJ Ahmann intervened on the client's behalf and the claim was accepted and paid, saving the broker $99,000. Why is contingent cargo insurance important? Whether your goods go by truck, rail, air or sea, cargo insurance protects you from a variety of potential losses. With more than 20 years in the logistics industry, RJ Ahmann has helped hundreds of businesses thrive with tailored cargo protection. Our services go beyond just issuing a policy. Once, we had a customer come to us with issues regarding acceptability with insurance. We restructured his program so it protected his customers better and, as a result, enabled his business to grow significantly. For two decades, we have been analyzing the insurance available to the logistics industry and have identified shortcomings in a number of programs. We designed our cargo insurance program to provide reliable, comprehensive coverage. How does international cargo insurance work? Many property policies don't cover global transactions. That's where international cargo insurance steps in. There are two basic types of cargo coverage. Firstly, for those who deal with overseas shipments, there is the open cargo policy, which insures all shipments that fall within defined parameters, such as value, shipping rates and the nature of the cargo. Second is a voyage policy. A voyage policy protects you during a specific shipment. Both provide insurance from the time the cargo leaves the seller until it reaches the buyer. For those dealing within dangerous zones of the world, you can add war risk coverage, which protects your goods in areas of conflict. Could your business survive a significant loss? Imagine you arrange a big shipment of goods for an important customer. Now, imagine the train carrying their goods derails. Would the shipment be covered? Would your relationship with your customer be protected? How about the time, stress and legal fees? Most businesses have a tough time bouncing back from these types of losses, unless they have solid contingent cargo coverage. A smart solution If you need contingent cargo insurance coverage, or if you just want to learn more, RJ Ahmann can help. With more than 20 years in the logistics industry, our Minneapolis, Minnesota agency has helped hundreds of businesses in this segment. We earned a stellar reputation in the industry and recognition from many major shippers who prefer our program. Many of our clients have been with us for more than 20 years. In fact, our cargo customer retention rate exceeds 98 percent! To ensure that you get the strongest insurance protection at the best rates, we...  Provide comprehensive contingent cargo insurance for transportation brokers and freight forwarders.  Are affiliated with leading contingent cargo insurers, including Travelers, Hanover Insurance Company and CNA.  Act as your claim advocates and take on a consulting role for when there is a claim.  Offer defense and coverage for liability exposures regarding truck accidents and lawsuits.  Offer a suite of cargo-related risk management tools that include contract analysis, cargo loss prevention techniques and claim recovery techniques.  Provide you with unparalleled expertise. Our highly qualified cargo program director carries CIC and CRM designations and is on the board of directors of the Transportation Intermediaries Association (TIA). He is frequently invited to speak about cargo risk management issues by the Transportation Logistics Council, TIA, the Inland Marine Underwriters Association and the Transport Lawyers Association. His articles have been published in industry journals, such as “Forward America,” “Logistics Journal” and “Logistics Weekly.” Ready to Learn More? RJA is Ready to Help with Solutions for Cargo Insurance! Contact Us Regarding Additional Information on Cargo Insurance: First Name:*

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General insurance

From Wikipedia, the free encyclopedia

Non-life insurance premia written in 2005

General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance typically comprises any insurance that is not determined to be life insurance. It is called property and casualty insurance in the U.S. and Non-Life Insurance in Continental Europe.

In the UK, General insurance is broadly divided into three areas: personal lines, commercial lines and London market.

The London market insures large commercial risks such as supermarkets, football players and other very specific risks. It consists of a number of insurers, reinsurers, [P&I Clubs], brokers and other companies that are typically physically located in the City of London. The Lloyd's of London is a big participant in this market.[1] The London Market also participates in personal lines and commercial lines, domestic and foreign, through reinsurance.

Commercial lines products are usually designed for relatively small legal entities. These would include workers' comp (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organisations. There are many companies that supply

comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels.

Personal lines products are designed to be sold in large quantities. This would include autos (private car), homeowners (household), pet insurance, creditor insurance and others.

ACORD [2] which is the insurance industry global standards organisation. ACORD has standards for personal and commercial lines and has been working with the Australian General Insurers to develop those XML standards, standard applications for insurance, and certificates of currency.

Contents [hide]

 1 Market trends

 2 India

 3 See also

 4 External links

[edit]Market trends

USA was the largest market for non-life insurance premiums written in 2005 followed by the EU and Japan,

[edit]India

National Insurance Company Limited was incorporated in 1906 with its Registered office in Kolkata. Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India. After the notification of the General Insurance Business (Nationalisation) Amendment Act, on 7th August 2002, National has been de-linked from its holding company GIC and presently operating as a Government of India undertaking.

National Insurance Company Ltd (NIC) is one of the leading public sector insurance companies of India, carrying out non life insurance business. Headquartered in Kolkata, NIC's network of about 1000 offices, manned by more than 16,000 skilled personnel, is spread over the length and breadth of the country covering remote rural areas,

townships and metropolitan cities. NIC's foreign operations are carried out from its branch offices in Nepal.

Befittingly, the product ranges, of more than 200 policies offered by NIC cater to the diverse insurance requirements of its 14 million policyholders. Innovative and customized policies ensure that even specialized

insurance requirements are fully taken care of. The paid-up share capital of National is Rs.100 crores. Starting off with a premium base of 500 million rupees (50 crores rupees) in 1974, NIC's gross direct premium income has steadily grown to 4021.97 million rupees (4021.97 crores rupees ) in the financial year 2007-2008.

National transacts general insurance business of Fire, Marine and Miscellaneous insurance. The Company offers protection against a wide range of risks to its customers. The Company is privileged to cater its services to almost every sector or industry in the Indian Economy viz.

Banking, Telecom, Aviation, Shipping, Information Technology, Power, Oil & Energy, Agronomy, Plantations, Foreign Trade, Healthcare, Tea, Automobile, Education, Environment, Space Research etc.

National Insurance is the second largest non life insurer in India having a large market presence in Northern and Eastern India.

The steady growth in premium income has been commensurately matched by profits over the years. As of March 2008, NIC's general reserve stood at 1457.25 million rupees (1457.25 crores rupees) with an asset value of 8867.99 million rupees (8867.99 crores rupees) signaling strong financial fundamentals. No wonder than that NIC has been accorded “AAA/STABLE” financial strength rating by CRISIL rating agency, which reflects the highest financial strength to meet policyholders’ obligations.