cargoforsikring

cargoforsikring, or cargo insurance, is a form of insurance that covers loss or damage to goods while they are in transit by road, sea, air, or rail, and sometimes during storage incidental to transport. It is typically arranged by exporters, importers, or carriers and can apply to a single voyage or to an open, yearly policy.

Coverage typically protects against physical loss or damage from risks encountered during transit, such as handling, accidents, theft, or contamination. Many policies follow standard forms, including the Institute Cargo Clauses (ICC) A, B, and C, which specify the breadth of coverage and the perils insured against.

Two main policy structures are used: voyage policies, covering a specific shipment, and open (yearly) policies, covering multiple shipments during a period. Policies are often described as all-risk (ICC A) or named-peril (ICC B/C), depending on the level of risk included.

Exclusions commonly include inherent vice, wear and tear, delay, and war or political risks, though insurers can add extensions for war, strikes, or other events.

Insurance is based on the value declared by the insured, commonly the cost of goods plus freight and insurance. Losses are settled on allowed bases, with deductions for agreed deductibles. If a claim is paid, the insurer gains subrogation rights to pursue third parties responsible.

Claims require documentation such as commercial invoices, packing lists, and the transportation document (bill of lading or air waybill), plus evidence of loss or damage and, when possible, surveyor reports.

From a risk-management perspective, cargo insurance complements carrier liability and may incentivize proper packaging, correct Incoterms, route planning, and timely notification of loss.