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If You Ship Products Internationally,You Need Marine Shipping Insurance


Insurance policies are designed to protect your business against the sort of disasters that could not be avoided, and the sort of setbacks that could not be predicted.

Businesses that ship overseas leave a lot to chance. No matter how much you trust your supply chain, you will never be able to entirely eliminate the possibility that things might go wrong.

And there’s so much that could go wrong. Adverse weather could delay shipments. Vehicle failures could stop your fleet in its tracks. And of course, there’s the ever-present risk of theft.

When your goods are hundreds of miles away, and when you’ve a language barrier to contend with, even a minor issue can quickly spiral into a full-on nightmare.

But marine shipping insurance is like a safety net. If your business is properly insured, you’ll be able to recover from even the most severe of setbacks.

What Does Marine Shipping Insurance Cover?

Marine shipping insurance will cover your business against a number of eventualities, including the loss or damage of ships, cargo, and terminals. A good policy will cover any vehicle or cargo by which your property is transferred, acquired, or held, from the moment it leaves its point of origin right up until it reaches its final destination.

Marine shipping insurance is complicated, and it’s not unusual for claims to be disputed. It’s often difficult to prove precisely where a shipping vessel or cargo has been lost. And in such cases, there’ll be discussion concerning actual total loss and constructive total loss.

Actual total loss describes a situation where the damages to the vessel and the cargo, or the cost of repair, clearly equals or exceeds the value of the property that’s been lost.

On the other hand, constructive total loss describes a situation where the cost of repairs, in addition to the cost of salvage, equals or exceeds the value of the property that’s been lost.

But these questions can only be asked when there’s actually property remaining on which damage can be assessed. And when it comes to marine shipping, where property can either be lost to sea or stolen outright, there’s not always a guarantee that there’ll be any property to assess.

The good news is that, unlike other types of insurance, marine shipping insurance policies do not require for the insured parties to prove their loss. The bad news is that this distinction can often make things even more complicated.

Average & General Average

In the world of marine shipping insurance, the term “Average” has a unique meaning: “an equitable apportionment among all the interested parties of such an expense or loss.”

The term “General Average” refers to a situation in which ship owners must make a “voluntary sacrifice” in order to save their ship or their crew. This voluntary sacrifice could include the jettisoning of cargo. The laws of General Average requires for all parties concerned in the shipping to make a contribution to remedy the voluntary sacrifice. All parties will share the expense, and the amount they contribute will be in proportion to the “value at risk” in the maritime venture.

The term “Average” can be a lot more troublesome and controversial, as it refers to a situation where an insurer has under-insured. For example, an item may have been insured for less than it is worth. In this case, a marine claims specialist known as an average adjuster will adjust and provide the general average settlement. In short, they’ll work to reduce the amount that the insurer has to pay out.

And that’s Just the Tip of the Iceberg

There’s a whole world of additional terms and concepts to grapple with when dealing with marine shipping insurance: contracts, warranties, excess, deductibles, co-insurance, and franchise.

Plus, it’s possible to take out a number of specialist policies to cover extreme or unusual eventualities – everything from yachting to warfare.

And depending on what you’re shipping, you may need to take out cargo insurance. If this is the case, your cargo will have to be classified as A, B, or C, with a wealth of additional clauses for each.

If all of this sounds complicated and confusing, that’s because it is. But if you’re getting a headache just reading about marine shipping insurance, imagine how much difficulty you’ll have if you ever need to make a claim.

But even though it differs greatly from standard insurance, marine shipping insurance at least has one thing in common: You can still call upon the services of a professional loss assessor to help you to receive the settlement you need.

What Can A Loss Assessor Do in a Marine Shipping Insurance Case?

In short, we’ll do everything we can to help.

We’ll begin by analysing your policy, forming a clear picture of just what you’re covered for, and of just how much you’ll be able to claim. This, of course, will increase the chances that your claim will be successful.

We’ll then prepare and present your case, before managing the entire process, from initial claim to the ultimate release of funds.

And of course, we’ll act as your trusted advisors and representatives throughout the entire process.

In summary, we’ll take care of things. We’ll navigate the turbulent waters of marine insurance on your behalf, and we’ll do all we can to secure for you an equitable settlement.

This will leave you free to get on with business, safe in the knowledge that your recovery is in very safe hands.

For more information about marine shipping insurance, or to find out what we can do for you, give us a call on 0844 544 1699.

Insurance Cover?

Product recall insurance covers certain financial losses related to the insured event. These can include:

  • The logistical costs associated with the physical recall of the product
  • Loss of profit while the products are off the market
  • Product replacement costs
  • Rehabilitation expenses

The problem is that, even if you have adequate insurance, the product recall service won’t be a smooth ride. You’ll still be required to deal with a wealth of regulatory issues and to engage regularly with your insurers – all while trying to work out what went wrong on the first place.

This will be stressful to say the least. And how on Earth are you supposed to effectively manage your claim with so much on your plate?

There is a clear solution here: All you have to do is arrange for a team of experienced experts to manage the claim on your behalf.

How Can A Loss Assessor Help With Product Recall Claims?

It’s not enough to simply have product recall insurance. Should you ever need to make a claim, your insurers are unlikely to offer you any advice or guidance. This is likely to make the process even more stressful than it should be, and as a result, you may not receive everything you’re entitled to.

But in the event of a product recall claim, our specialist loss assessors will examine your policy and work on your behalf to prove that you’ve complied with all conditions. In this way, we’ll ensure that your insurers accept liability quickly, which will serve to speed up your business’s recovery.

At the same time, we’ll act as expert advisors to your crisis management team. We’ll attend all the critical meetings, and just generally represent you and your business concerns throughout the entire claims process.




At this point, you would hope that your insurance company is there to help but unfortunately this is not the case. We have known families who have felt intimidated by insurers and have been treated as though they have done something wrong, or are in some way to blame for their situation.

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    Keep stress to a minimum by managing all aspects of the claims process
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    Get back to normal life as quickly as possible by organising any support you need


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