Cargo insurance covers/compensates a buyer or seller of goods against cargo damage or loss of cargo..
Despite it having been around for centuries, there is still a feeling that any form of insurance is a “grudge purchase”..
By its nature, insurance is an intangible benefit, one that can only be tested under adverse circumstances and there is nothing more adverse than cargo damage..
One of the common complaints about getting insurance is about the tons of paperwork that needs to be completed and the time it takes for all of it to be done..
Chubb, the world’s largest publicly traded property and casualty insurance company aims to take this pain away from the customers who are interested in having their goods covered..