General Average is nothing but another name given to general loss. It applies when something untoward happens to a ship carrying cargo. Every cargo owner, along with the carrier company, becomes responsible for their and other’s cargo and the vessel when General Average is declared. Common examples are fire on-board, the vessel getting stranded or […]
Essential requirements of a quality cargo insurance provider
Although no one likes, risks of losses, damages, claims are almost an inevitable part of transportation. But the claim settlement could either be slicing through the cake or turn into a nightmare based on the cargo insurance provider and the coverage chosen. Plenty of insurance providers are out in the market offering cargo insurance and […]
Cargo Insurance: What is it?
Transportation of goods around the globe is associated with certain risks. As carriers hardly guarantee safe delivery, there is always a risk of loss or damage. This is where cargo insurance comes in. It is the way to protect consignments from physical damage and theft or pilferage during their movement from one place to another. […]