Financial
Reinsurance
Mechanism where an insurance company transfers part of its risks to another insurer to reduce exposure to large losses. Enables insuring very high-value cargo that would exceed individual capacity.
Mechanism where an insurance company transfers part of its risks to another insurer to reduce exposure to large losses. Enables insuring very high-value cargo that would exceed individual capacity.
Mechanism where an insurance company transfers part of its risks to another insurer to reduce exposure to large losses. Enables insuring very high-value cargo that would exceed individual capacity.
Marine Cargo Insurance
Policy protecting the insured against losses or damage to goods during maritime transport. Can cover from basic risks to all risks depending on the contracted ICC clause.
FinancialExcess Policy
Insurance that comes into effect only after the primary policy coverage is exhausted. Unlike the umbrella policy, it generally follows the same terms and conditions as the underlying policy.
FinancialUmbrella Policy
Additional liability insurance providing coverage above the limits of primary policies. Protects against catastrophic claims exceeding basic cargo insurance coverage.
FinancialInsurance Premium
Amount paid to the insurer as consideration for cargo insurance coverage. Calculated as a percentage of insured value (generally CIF + 10%) considering type of goods, route, and contracted clause.