The Import Export Podcast – Marine Insurance Shipping Logistics Global Trade

November 9, 2021 By admin 0

Steve from Coverfreight gives our listeners and understanding of how marine insurance works. We discuss why it’s important for shippers to insure their cargo and who should cover insurance based on the IncoTerms agreed. Steve gives insight into some of the common problems and claims made when shipping goods Internationally. We give tips on how shippers should choose a marine insurance provider for their business operations.

Questions we cover:

Can you explain why it is important that shippers have their goods covered by marine insurance?

Say an importer is buying a 20′ container of goods on Free On Board Terms (FOB), what is the best way to arrange cover of cargo?

How does marine insurance work in with IncoTerms?

What are the main types of marine insurance cover? Does it depend on cargo type, shipment type, destination? What are the factors that shippers should consider?

What are the differences between marine cover A, cover B and cover C?

What are most frequent reasons that shippers submit insurance claims?

What is the difference between cargo and transit?

When should shippers consider once-off marine insurance cover or annual cover? What are the advantages either way?

What is the process to submitting an insurance claim?

How long does it typically take to receive an insurance payout?

How does Coverfreight steamline the marine insurance process?

What are some key tips you can give listeners when it comes to finding a good marine insurance broker?

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