Marine Insurance is International in nature. It is a transit risk policy covering movement of cargo from one specific point to the other point of discharge. The risk attaches from the time goods leave the warehouse of the consignor who is named in the policy and continues during the ordinary course of the voyage up to the consignee’s warehouse. The insurance is issued to cover:
We have three types which are:
the perils we cover under marine Insurance are:
The full risk evaluation information should review containerization of cargo, sea freight, air freight, rail freight and road freight as necessary in order to guide the underwriter in assessing the marine risks and or seeking implementation of risk improvement and determination of the premium rate applicable.
Before granting cover, we look into geographical areas covered, mode of conveyance, nature of goods, age of the vessel, the voyage, political factors, physical and or presence of fog, atmospheric disturbance, safety of port of discharge, packing, transshipment e.t.c.