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Project cargo insurance facility

An insurance solution for small to medium-sized project cargo and marine risks, including delay in start-up.

Contact us to learn more about our project cargo solutions

Global construction and infrastructure development is expected to grow in the next 12 months, with exciting and innovative projects planned.

When developing new projects, stakeholders want to safeguard their investment. This is typically against increased project cargo risks worldwide or the financial consequences of a delay in completion. This can be caused by loss, damage, delivery delay of materials, equipment, or other project critical components.

Unique insurance coverage 

Marsh’s Project Cargo Insurance Facility provides coverage for physical loss or damage to goods in transit on an “all risks” basis. using the Institute Cargo Clauses (A). it includes insurance coverage for war and strikes risks. This addresses complex risks faced by importers, exporters, and manufacturers.

Various measures of indemnity options are available for marine delay in start-up indemnity/consequential loss coverage. For example, loss of gross profit, debt service or fixed costs and the associated increased costs of working. This helps our clients manage their risk management challenges effectively.

Both the physical loss or damage and the delay in start-up/consequential loss sections of the insurance can be customised to meet each project’s individual requirements. This provides financial protection against unforeseen events during transportation by sea, air, or land.

Key benefits

Combined limit

A combined limit for physical loss or damage and marine delay in start-up of up to US$200 million.

Coverage

Coverage for projects up to a maximum build time of 48 months.

Quote terms

100% supported quote terms and ability to bind cover from two lead of three insurers.

Claims

Efficient claims service and timely claims payment process.

Why Marsh

Project cargo needs to handle the challenges of large limits, long policy periods and, where delay in start-up is included, complex financial models.

Marsh’s dedicated project cargo team use their experience to tackle these challenges using strategic information gathering and careful selection of lead insurers with project cargo expertise. 

FAQs

Project cargo insurance typically covers physical loss or damage to goods in transit on an “all risks” basis. This includes marine cargo and delay in start-up coverage. It helps provide cover against complex risks such as war, strikes, and unforeseen events during transportation by sea, air, or land. Coverage often includes advanced loss, and consequential loss options tailored to protect project materials, equipment, and stock, throughout the cargo market globally.

Project cargo insurance is purchased by those involved in transporting critical materials and equipment, such as:

  • Project owners
  • Contractors
  • Manufacturers
  • Importers
  • Exporters
  • Logistics companies.

Banks, investors, and lenders also require this insurance to protect their financial interests.

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