FAQ - Marine Cargo

  1. When is a cargo survey necessary?

    A cargo survey is only necessary when a potential insurance loss exceeds US$1,000. When a potential insurance loss is less than US$1,000, there is no need for cargo survey. In any case, you should take photo graph s showing the cargo damage and indicate any damage or likely damage on the cargo receipt before you sign it.

  2. If we have cargo insurance, why we are asked to make a cargo claim to the carrier or forwarder?

    We cover the transit risks for your shipment, but we are not the liable party for any damage to your cargo. In order to preserve your right of recovery, as the owner of the cargo you have an obligation to report any damage or likely damage of the shipment in writing to the carrier or forwarder. This is a requirement of your policy.

  3. Is there any time limit for reporting a cargo claim to you?

    You should report any cargo damage or suspected damage to us as soon as possible. In some circumstances, an early claim report may help to minimize the amount of the loss. However, you must make a claim notification in writing within three (3) days of receipt of cargo if your carrier is a sea carrier or fourteen (14) days if it is an airline or air carrier.

  4. Can we dispose of the damaged cargo?

    You can dispose of the damaged cargo as you think appropriate, just as an unassured will do in the same circumstances. However, you must keep full record of the damaged cargo disposal (both photographs and documents) as evidence.

  5. Who can submit a claim for cargo damage?

    Anybody (broker/agent/shipper/consignee) but if the insurance payment is to be issued to another party having no insurable interest, the party having interest should give written authorization.