International business carries with it significant risks. The importing and exporting of goods can expose you to massive financial losses should your international shipments be damaged or destroyed in transit.
Marine Cargo Insurance not only provides the best protection for your cargo, but also understands the importance of swift response and efficient service in handling your claims.
Catering to both importers’ and exporters’ needs, the coverage is comprehensive and flexible with international shipments protected from the time the goods leave the seller’s warehouse until they reach the Buyer’s warehouse.
The party usually responsible for insuring the goods is determined by the sales contract. To help you familiarise yourself with the Buyer’s and seller’s responsibilities, insurers can extend its experience in respect of the most common sales contracts, i.e. ex-Works, Free on Board(FOB), Cost and Freight (CFR) and Cost Insurance and Freight (CIF).
Sales Turnover Policy is a highly flexible and customizable marine insurance cover. Instead of covering a particular type of transit, this policy can cover all the transits that are required to achieve a sales. Hence the policy can cover:
Domestic Purchase of raw material, consumable & stores
Inter-Factory, Inter-Warehouse or Inter-Depot transfer
To & Fro job work movements
The sum insured in the policy is the expected annual sales turnover.