Marine Cargo Insurance is one of the oldest branches of Insurance or you can say here is where the insurance mechanism was invented. Marine insurance is an agreement whereby the insurer undertakes to indemnify the insured for loss of or damage to goods /cargo during transit by rail, road, sea, or air.

Marine insurance plays an important role in domestic trade as well as in international trade. Most contracts of sale require that the goods must be covered, either by the seller or the buyer, against loss or damage while in transit.

Who should buy Marine Cargo Insurance?

  • Importers/exporters
  • Freight forwarders on behalf of their customers
  • Manufacturers
  • Other buyers and sellers engaged in international and/or local trade.

Key Benefits & Features

Marine Insurance are mainly governed by Institute Cargo Clauses which are vetted by Joint Cargo Committee which suits the Modern Trade developments with more advantageous terms of insurance in line with the below Internationally accepted clauses

  • Institute Cargo Clauses (A) 1.1.82 / 1.1.09
  • Institute Cargo Clauses (B) 1.1.82 / 1.1.09
  • Institute Cargo Clauses (C) 1.1.82 / 1.1.09
  • Including War & SRCC Risk cover 1.1.82 / 1.1.09

Comprehensive coverage for Export, Import, Third port Shipments, Goods in transit within UAE. Spot Policies and Marine Open Cover renewable annually can be issued as suitable for your business model.

To meet requirements of our clients anywhere in the world, we Tokio Marine Nichido provide two tiers of worldwide claim service network to settle international cargo claims promptly with the help of our Claim Settling Agent Network.

What we do not cover

  • Compliance Countries where locally admitted policies are accepted.
  • UN Sanction Countries