Marine/Transit Insurance for Freight Forwarders protects goods in transit against risks like loss, damage, or theft. Here’s what it typically covers:

Cargo loss or damage: Compensation for goods lost or damaged during transit

Theft or pilferage: Covers theft or pilferage of goods

General Average: Contributions to general average sacrifices or expenses

Transit risks: Covers risks like fire, explosion, collision, or stranding

Why is it crucial for freight forwarders?

Financial protection: Covers potential losses, reducing financial risk

Client satisfaction: Ensures clients’ goods are protected, building trust

Compliance: Often required by clients or contractual agreements

Types of policies:

Voyage policy: Covers a single shipment

Open policy: Covers multiple shipments over a period