As goods move across sea, land, or international borders, tracking them becomes increasingly important and difficult.
For example, with globalization resulting in greater trade with developing countries, the risk of theft or damage to goods in transit continues to rise. Meanwhile, advances in technology are sharpening customers’ expectations in relation to manufacturing and distribution lead times. Companies today are fully aware of the damage that failure to deliver can bring to their business relationships, so confidence in prompt, reliable delivery is a simple commercial necessity.
Our cargo insurance programs are designed to provide comprehensive coverage for goods in transit for manufacturers, importers and exporters, commodity traders, logistics companies and more. We can also provide numerous extensions to coverage such as pure domestic transit movements, warehouse, storage, exhibition, and processing or consolidation risks.
Features & Benefits
- Global coverage with local policies where needed for multinational risks
- Limits among the highest in the industry
- Flexible programs, tailored for client needs
- Comprehensive coverage for goods in transit can be enhanced to include warehouse storage for consolidation risks
- Underwriting, claims, recovery, loss control and risk management services provided by marine specialists throughout the world
- Fully combined property and marine cargo policy available with LexPILOTSM (Property Income Loss and Ocean Transit)
- All risk and third party coverage for exporters and importers (including stock throughput), multinational accounts (including captives), freight forwarders and infrastructure projects
- Advance Loss of Profit (ALOP) / Delay in Start-Up (DSU) coverage available on project cargo programs
- Warehouse storage enhancement available on request