CARGO INSURANCE

BECAUSE YOUR BUSINESS MATTERS TO US



Every year literally billions of dollars' worth of project-critical equipment is sent around the globe aboard ships. A combination of weather conditions on the oceans and seas, the cargoes themselves, transport logistics, re-fabrication, soaring expenses, short deadlines and potential lost profits means it can be a very risky business. If a shipment is late it can lose a fortune, and that's where cargo insurance comes in.

Just because a shipment doesn't arrive, or is late, it needn't end in financial disaster. Our trusted insurers offer cover for small and large cargo risks thanks to highly skilled teams of expert underwriters. We act as your middle man, making sure you understand your cover, get exactly the right protection at the right price, and don't miss anything vital. In a world where the risks are famously volatile, insurance can be a business-saver.

At the same time construction projects are getting ever-bigger and more complex, and project management has gone global. When a delay in the delivery of essential components or materials at sea happens, money can be lost and reputations ruined. There's also a strong trend for massive offshore pre-assembled modules, each of which comes with unique risks of its own.

As the operator or owner of a private jetty you face a variety of special risks, all of which can have a serious impact on your profitability and ability to trade.  You need good quality private jetty liability insurance to cover jetties, terminals and river ports, specially designed by experts to protect your financial interests.

Interested parties also include financial institutions like banks. Imagine if you fail to repay a bank loan when critical machinery is undelivered – you need insurance to protect lenders' interests.

Here are three essential insurance policies for business involved in cargo:

Project Cargo insurance policy features

  • Project Cargo insurance is designed to meet the specific risks inherent in small and large projects
  • It covers you for in-transit loss or damage to critical components needed for civil, production facility and infrastructure construction projects
  • You can choose a DSU extension or add Advanced Loss of Profits (ALOP) cover to protect you if you lose income or profit because critical components don't arrive at all, are late or arrive damaged

Why you need Project Cargo insurance

Operators in all these sectors benefit from cover like this:

  • Oil, gas and renewable energy generation  
  • Chemical facilities
  • Paper manufacturers and printers 
  • Manufacturing and processing of every kind  
  • Bridge, dam and other large infrastructure contractors
  • Mining and Metals production 

Marine DSU policy features

Today's Marine DSU policies protect you against a broad range of risks including cover for:

  • Lost gross revenue and gross profit
  • Standing charges, interest payments and re-financing
  • Any increases in the cost of working
  • The cost of preparing a claim, potentially an extremely detailed process
  • Liquidated damages
  • Your contractual commitments, salaries and lost bonuses
  • Any expediting expenses

Why you need Marine DSU insurance

Marine Delay in Start-Up insurance is ideal when you need to move big, expensive, unique or particularly time-sensitive equipment from A to B, for example from the factory where it was made to the port, onto the ship, and across the seas to its final destination. In a world where lost or damaged equipment can bring a multi-million project to a standstill, it makes a lot of sense to protect your finances against the very real risks you face. As a risk manager, project engineer or shipper, you should explore the potential with experts like us.

Private Jetty Liability insurance policy features

  • Loss of cargo, craft and customer equipment
  • Damage to all of the above
  • The costs involved in litigation, mitigation, and legal defence
  • Lost or damaged equipment, including losses because of strikes, riots and terrorism
  • The cost of removing wrecks
  • Quarantine costs
  • Disinfection costs 
  • Errors and omissions, including delays and unauthorised deliveries
  • Third party liability, including impacts and accidental pollution
  • Fines for breaching regulations, for example health and safety, customs, and pollution laws
  • Disposal costs after an accident

 

This cover is designed to fill the gaps left by other insurances. You might also need one or more of these policies, all of which we can help you with. 

  • Business interruption
  • Fire legal liability
  • Ships' agency liabilities
  • Hull and P&I
  • Property insurance
  • Infringement of personal rights
  • Liability regarding advice and information
  • Locomotives and rolling stock
  • Machinery and handling equipment
  • Rail and road infrastructure cover

Why you need Private Jetty liability insurance

Many modern jetties and terminals are diversifying, changing fast. Some are handling freight forwarding and logistics, which means their insurance must be flexible enough to cover a wide range of risks and liabilities. We provide cover that combines all the common commercial and environmental risks faced by private jetty owners and operators, including cover for property and handling equipment against accidental and weather damage, compensation for broken down machinery, and the costs associated with putting things right after an accident. 

Professional support with marine and cargo insurance and claims

As well as specialist cover for a variety of marine risks, we provide loss prevention advice to help you control and reduce the risks you face. We'll help you reduce your exposure to claims and set in place best practices. Plus, our popular claims service helps you settle valid claims quickly and efficiently. Please contact us for the details, or for a quote.