Ocean Cargo Insurance

While physical damage on transit claims may not be a problem, importers and exporters should be aware that over 50 voyages a year encounters heavy weather where shipping containers are lost overboard.

Due to the international policy of all shippers with safe-landed cargo contributing to the loss      will require that the owner of the goods put up a cash security, post a bond or will be unable      to have the goods released from the carrier until a financial guarantee is given to respond for      the contribution.

With an open cargo policy, the insurance company will post the bond and ensure the speedy      release on owners' cargo.