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Cargo Insurance

Coverage of goods in transit (goods-in-transit insurance)

Cargo insurance is the most reliable and convenient way of protection against cargo-related financial losses

Product Description

The steadily growing international trade volumes and the increasing number of companies tapping into the global market require the cargo owners’ scrupulous attention not only to the scope of coverage, but also to the quality of services rendered by an insurance company. In cargo insurance, the quality of claims settlement is the key indicator of the insurer’s performance.

In addition to high-quality, reliable and competitive insurance protection, AIG’ clients gain access to an extensive network of its representative offices and branches all over the world, thus being able to take advantage of the unrivalled opportunity to have their claims most competently settled by employees of the AIG nearest office. AIG’ services in worldwide coverage of goods in transit – hassle-free comfort so much required in your business.

Objects of Insurance

Any cargos (finished products, equipment, semi-finished products, raw materials, dangerous goods), including transportation coverage for equipment and materials required for construction or revamping projects as well as advance loss of profit and delay in start up coverage. 

Risks:

 

  • All risks coverage
  • With particular average 
  • Free from particular average
  • Additional protection

    • War & Strikes Risks 
    • Temperature risks 
    • Terrorism in transit risks 
    • Advance loss of profit (ALOP) and delay in start up (DSU) insurance offering coverage for financial losses incurred due to delayed commissioning of a construction project resulting from loss / damage to cargo 

    Insurance is based on open cover basis.

    AIG’sd clients are the suppliers, manufacturers of equipment, and suppliers of different appliances and goods. Cargo insurance provides them with reliable protection against financial losses. 

    Main advantages of insurance with AIG

    • Terms of cargo insurance is based on standard institute cargo clauses as well as additional clauses addressing the needs and interests of each client 
    • Extensive network of branches and representative offices all over the world, thus making it possible to take care of needs and concerns of our insureds in other countries and giving them the possibility to contact the local AIG office in case of claims in their native language and in their country 
    • High standards in methods of claims settlement, including quality control of the settlement process at different levels of corporate management 
    • In-house risk-engineers specializing in logistics and giving advice on loss mitigation, assisting in transportation of large-size and valuable cargos, and supervising over operations performed by contracting surveyors and technical specialists 
    • Availability of insurance with AIG companies in other countries of the world, including an option of development of a global insurance program providing for issuance of locally tailored policies to comply with the applicable laws and regulations or to meet requirements of the insured

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