Insurance Products
Marine Cargo Insurance and Carrier Liability
Marine cargo insurance protects your goods against damage, loss and theft during road, sea, air and rail transport on a door-to-door basis.
At a glance
- Status
- Optional
- Core cover
- 5 sections
- Quote turnaround
- Same business day
Cargo policies are classified by scope under Institute Cargo Clauses A, B and C. Clause A provides the widest, near all-risks cover, while Clause C covers only a limited list of major perils. In import and export transactions, the delivery term (Incoterms) determines which party carries the insurance obligation.
For companies shipping regularly, an open (floating) cover is the most efficient structure. An annual framework policy is issued and each shipment is declared under it, removing the burden of issuing individual policies and producing better pricing based on total turnover.
Carrier liability insurance (CMR) is taken out by the transport company rather than the cargo owner, and covers the carrier's legal liability. For hauliers, CMR does not replace a cargo policy; the two protect different parties and are usually both required.
What Is Covered
- Cargo cover (ICC A/B/C)
- Covers physical damage and loss to goods in transit under the selected clause.
- Open (floating) cover
- Provides an annual framework policy with per-shipment declarations for regular shippers.
- Carrier liability (CMR)
- Covers the carrier's legal liability for damage caused to the goods carried.
- War and strikes clauses
- Extends cover to war, strike and terrorism perils on higher-risk routes.
- Intermediate storage
- Maintains cover during temporary storage periods within the transit chain.
Who Is It For?
- Manufacturers and traders importing and exporting
- Logistics, haulage and freight forwarding companies
- E-commerce and wholesale distribution businesses
- Firms handling project cargo and heavy lifts
What Is Not Covered
- Damage caused by insufficient or unsuitable packing
- Inherent vice, natural deterioration and ordinary loss in weight
- Consequential loss from delay and loss of market
- Wilful misconduct or gross negligence of the insured
What Affects the Price
Premiums vary between insurers according to the factors below. We compare 27 partner insurers to find the best fit for your profile.
- Nature and fragility of the goods carried
- Mode of transport and route risk
- Selected clause (A, B, C) and extensions
- Annual shipment turnover on open covers
Frequently Asked Questions
What is the difference between ICC A, B and C?
Clause A is the widest, closest to all risks. B is intermediate and C is the narrowest, covering only listed major perils.
Who should use an open cover?
Companies shipping regularly through the year. Each shipment is declared under the policy without separate issuance.
Does CMR replace cargo insurance?
No. CMR protects the carrier's liability; a cargo policy protects the owner's goods. Limits and scope differ significantly.
How is the sum insured set?
Usually 110% of the CIF value, covering goods, freight and anticipated profit.