Tailored risk solutions

Electronic Cerificates of Insurance

Marine Cargo Questionnaire

Goods being transported anywhere in the world are exposed to a wide range of risks some of which include loss or damage due to:

• theft, pilferage or hijack;
• mistakes in transportation such as dropping, rough or inappropriate handling;
• accident to the carrying conveyance such as a vessel sinking, aircraft crashing or vehicle fire, road traffic accident or overturning;
• exposure to rain or salt water;
• variations in temperature.

Most of these risks are difficult for the owner of the goods to manage directly. This is because the shipment will be given into the care, custody and control of third parties who will limit their liability for loss or damage to those goods.

Any company that has responsibility for goods whilst in transit anywhere in the world should buy marine cargo insurance. Companies ought to consider the impact that loss or damage to goods could have, not only on their own organisations, but also on their customers. By purchasing marine cargo insurance the damaging consequences of any loss can be greatly mitigated by a claim on the policy.

Companies that do not currently bear responsibility for loss or damage to goods in transit should consider the benefits of taking on this responsibility, thereby having greater control over the movement of goods and the benefits that are available in more actively managing their logistics. With proper management of the risks and the purchase of a marine cargo insurance policy companies can exercise greater control over negotiating contracts with suppliers and customers.

Why choose ACE for your marine cargo policy?

Our underwriters and claims handlers are specialists in this class of business. We have the capability to provide a comprehensive underwriting and claims service not just in the UK but worldwide as well. We have full in-house transportation risk management resources available to our clients. We are able to offer a choice between straightforward standarised policy cover and sophisticated bespoke risk managed programmes to suit clients' needs.

What cover will ACE provide?

The ACE marine cargo policy provides cover for the risks of loss or damage to goods whilst in transit including extensions in cover for:

• loss or damage whilst loading onto and unloading from the carrying conveyance;
• insured's control of the salvage or disposal of their own branded goods;
• buyers and/or sellers contingent interest;
• delayed discovery of concealed damage;
• increase in the value of goods due to the imposition of duty;
• full payment of general average or salvage charges;
• costs for the removal of debris;
• loss or damage to goods whilst in transit to/from and whilst at exhibitions, trade fairs or shows.

Upon application to underwriters cover may be provided for further additional perils such as:

• loss or damage to goods whilst in store outside the ordinary course of transit
• financial loss consequent upon physical loss or damage to goods whilst in transit
• loss or damage to engineers' and/or sales representatives' tools, samples or equipment.

For those clients who need a more specialised approach we can arrange a fully bespoke programme, including:

• bespoke policy wordings;
• structured programmes involving the use of self-insured retentions or captives as well as providing underwriting and claims handling services;
• multinational underwriting knowledge and approach;
• global and local policy issuance;
• multinational premium collection;
• multinational claims handling;
• global risk management solutions;
• cross class risk solutions;
• project risks.

The Certificate of Insurance is an essential document in international trade. Over the years, as trade procedures have evolved, the Certificate of Insurance is used mainly to support a documentary letter of credit, being evidence of the existence of a policy of insurance. Many certificates are still produced by typewriters on pre-printed forms.

To assist in the production of these certificates using available office technology, ACE Europe has introduced electronic Certificates of Insurance via the Internet. All you need to produce these documents is Internet access, a user Id and a password.

Advantages for our clients

Click here to download a pdf of the marine cargo questionnaire.