Marine Insurance

Transporting goods through marine cargo is a long, complicated and a risky process. Depending largely on both man-made and natural situations. Marine insurance covers any potential losses or damage to the cargo ships, goods and terminals.

Providing financial coverage for such enormous transport-related loses, this voyage insurance is a safe haven for shipping companies. Since, despite following all the protocols and safety regulations, once the cargo is on waters, the contractor cannot control the voyage of the vessel.

With hundreds of containers lost at sea each year due to terrible weather hazards such as hurricanes, squalls, typhoons and tropical cyclones. More and more shipping companies opt for marine insurance to protect themselves in case of having to face the aftermath of a loaded cargo sitting at the bottom of the ocean.

But the most common man-made conflicts occur during cross border water transportation. Occurrences like pirate encounters, looters, cross border conflicts can result in a humongous loss of goods and damage to the vessel. To which these marine insurance contracts comes to the rescue by providing financial aid to the contractors to defend against the losses.