Cargo Insurance is a critical part of the international transportation process.
For this reason, Atlas has aligned itself with Lloyds of London to specialise in worldwide cargo insurance cover, allowing us to offer the most comprehensive “all risk” coverage available.
The purpose of cargo insurance is to cover the goods during transit for "All risks / Total value" of the consignment and avoid relying on the limited liability of agents or carriers. Freight forwarders generally do not insure your shipments automatically and depending on the nature and value of your goods we can arrange full cargo insurance on your behalf.
Our goal is to identify the hidden risks in the supply chain and to structure an insurance program addressing those risks, while providing financial security to our clients.
If transit / marine insurance is implemented, and if there is a claim, normally insurers would settle any bona fide claim expeditiously and then claim from the carrier / agent under subrogation. The carrier / agent would then normally settle with the insurers within the terms of their liability, be it CMR or other relevant terms.
If a shipper chooses not take out insurance cover, then they rely solely on the relevant terms of the carrier/agent should there be a claim, and depending on circumstances, the total value of such a claim may not be fully covered and this is at the client's risk, not that of the carrier or agent.
Normally the insured value is the delivered value plus 10%. The 10% effectively covering the cost of freight for a duplicate consignment should the first one be lost. If a claim is made against cover, it doesn't mean that premiums would normally be increased unless there is a succession of attrition claims.
Please don't hesitate to call or email us for a free quote and further information on the various levels of coverage we provide -firstname.lastname@example.org