Protecting your clients’ freight goes well beyond physical security measures to make sure it safely reaches its destinations. Besides coverage for negligence and mishandling at any point in the supply chain, your goods in transit insurance should include indemnity solutions that shield against losses from acts of God or criminal activities targeting the marine vessels carrying your cargo.
Danger on the High Seas Threatens Your Operations
Humanity’s impact on our environment has resulted in shifting weather patterns and the increased frequency of severe storms. The tragic case of the SS El Faro, lost at sea in October 2015 when it encountered Hurricane Joaquin, proves this point. Also, the Atlantic hurricane season of 2017 was the most destructive on record, producing major storms such as Harvey, Irma and Maria and costing a total of $369.86 billion in damages.
Meanwhile, pirates don’t just exist as stereotypical eye-patched, parrot-loving swashbucklers. While Somali pirates often make the news with their attacks on sea vessels, there were 246 attacks worldwide in 2015, costing public and private shippers billions of dollars.
Protect Your Freight and Your Future
Severe storms and piracy are just two reasons why you need goods in transit insurance as part of your total indemnity plan. Marine cargo policies offer excellent additional protection, customizable to include warehoused cargo, high-value freight, and on-deck coverage. Your insurance agent can suggest personalized cargo insurance options that secure yours and your clients’ financial health.