Marine Cargo Insurance is one of the oldest branches of Insurance or you can say here is where the insurance mechanism was invented. Marine insurance is an agreement whereby the insurer undertakes to indemnify the insured for loss of or damage to goods /cargo during transit by rail, road, sea, or air.
Marine insurance plays an important role in domestic trade as well as in international trade. Most contracts of sale require that the goods must be covered, either by the seller or the buyer, against loss or damage while in transit.
Who should buy Marine Cargo Insurance?
Freight forwarders on behalf of their customers
Other buyers and sellers engaged in international and/or local trade.
Key Benefits & Features
Marine Insurance are mainly governed by Institute Cargo Clauses which are vetted by Joint Cargo Committee which suits the Modern Trade developments with more advantageous terms of insurance in line with the below Internationally accepted clauses
Institute Cargo Clauses (A) 1.1.82 / 1.1.09
Institute Cargo Clauses (B) 1.1.82 / 1.1.09
Institute Cargo Clauses (C) 1.1.82 / 1.1.09
Including War & SRCC Risk cover 1.1.82 / 1.1.09
All carriers have "Limited Liability" of cargo. It is highly recommended that cargo insurance is obtained to ensure that the cargo is fully protected from loss or damage in transit. We advise our customer’s the right choice of insurance based on their requirements. J3 Logistics is associated with reputed Marine Insurance companies and helps in procuring insurance coverage for safety and risk coverage of cargo.