Marine Cargo Insurance

All Risks Cover, Place to Place, By Any Transport Mode

What is Marine Cargo Insurance?

Marine Cargo Insurance covers goods/cargo in transit, whether by sea, air (including courier) or land (road and rail).

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Do I need Marine Cargo Insurance?

With the cross-border nature of trade, comes with certain risks. Insurance coverage is critical for companies dealing with freight forwarding, shipping, trading or manufacturing to safeguard their investment in goods for domestic and international shipments.

For all companies, whether in Hong Kong or worldwide, our Marine Cargo Insurance policies allow for the smooth day-to-day running of your business by providing the financial security of being covered against potential losses which may occur during air, sea or land transportation.

You can cover your shipments by arranging marine cargo easily and quickly using ‘Edge’, our digital Cargo Insurance platform, to generate quotes and arrange insurance certificates instantly. We also provide a free Cargo Insurance API and customization, allowing you to implement either ‘one-click’ or fully automated insurance issuance with our Cargo Insurance API.

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What does Marine Cargo Insurance cover?

At the most basic level, this covers the loss or damage of goods transported. Whether that’s from Hong Kong or elsewhere in the region, we tailor Marine Cargo Insurance policies to suit your circumstances, including coverage related to:

Our Azure Risk team is backed by years of experience in the worldwide supply chain. Working with you, we assess the risks involved in importing or exporting goods across transportation stages and identify complexities that could leave you vulnerable to financial loss.

War Risks Insurance

Our War Risks and Protection and Indemnity (P&I) insurances dovetail with one another, avoiding the risk of gaps in cover and ensuring a consistent approach to claims. They are designed to protect ship owners, ship managers, cargo owners and charterers from war risks and piracy worldwide.

For cargo owners, our insurance can cover cargo whilst trading in high-risk areas that are not automatically covered by general cargo insurance.

For ship owners, our insurance includes separate limits for P&I and Hull & Machinery; and covers detention or diversion expenses.

Our policies cover:

  • War, civil war, revolution, rebellion, insurrection, or any hostile act
  • Capture, seizure, arrest, restraint or detainment
  • Derelict weapons of war (mines, torpedoes, bombs)
  • Strikers, locked-out workmen, riots or civil commotions
  • Any terrorist or person acting maliciously or from a political motive
  • Violent theft by persons from outside the vessel
  • Piracy
  • Misconduct of masters, officers or crew
  • EU Passenger Liability Regulation (PLR War)
  • Discretionary claims

Related Perspectives

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What is cargo insurance, and what makes a good policy?

For cargo business in Hong Kong or worldwide, cargo insurance is a policy that indemnifies you against loss and damage to cargo shipped by air, sea or land. A good cargo insurance policy isn’t restrictive. It should be flexible to allow for adjustments, such as enabling you to respond to current shipping delays. We make sure that happens.

Three cargo insurance misconceptions

Three common cargo insurance misconceptions:

#1 “All policies are created equal.”

#2 “Cargo insurance is confusing.”

#3 “It’s just a cost, and why should I pay for it?”

We’re with you every step of the way to guide you to ensure the policy suits your shipping requirements.

Where we see the majority of cargo insurance claims

With ongoing shipping delays, there’s a greater risk of exposure at sea or port and related damages (water damage, theft) as it’s taking longer for transits to occur. General Average (GA) incidences are increasing (Ever Given Suez Canal blockage and Zim Kingston fire). Most policies cover GA, but you must ensure GA guarantee is issued quickly.

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