Solution

CargoSecure

Protect your investment against losses with Marsh’s CargoSecure — a comprehensive marine cargo insurance solution with market-leading coverage.

Protection

Protection

Comprehensive protection at competitive pricing

Speed

Fast response, seamless processing through proprietary trading platform

Support

Support

Dedicated underwriting and claims management expertise

The need for marine cargo insurance

Your cargo shipments face multiple risks, such as damage and theft, once they depart their place of origin. Whether exporting or transiting finished goods or raw materials, bulk or containerised, daily or several times a year — businesses around the world have come to rely on marine insurance coverage to effectively mitigate and transfer cargo risks. Choosing the right cover is key to protecting your investment.

Introducing CargoSecure by Marsh

Marsh — the world’s leading insurance broker and risk advisor — now offers a marine cargo insurance solution providing comprehensive coverage for your goods throughout the transit journey. CargoSecure gives you greater assurance with reliable, market leading protection to safeguard your cargo.

CargoSecure features

All Risks Cover

Available as an annual or open cover policy, CargoSecure can insure your goods in transit (local delivery, imports, and exports) up to a limit of US$10 million per sending in a single shipment.

Coverage

CargoSecure provides protection against physical loss or damage to your cargo while in transit anywhere in the world, excluding sanctioned countries.

CargoSecure benefits

  • Underwritten by reputable, reliable, and professional insurers with experience in local and international markets.
  • Marsh’s streamlined insurance program administration capability facilitates prompt quotations and arrangement of insurance cover.
  • Efficient claims management ensures peace of mind.

FAQs

Physical loss or damage to property that is owned, or for which an insured has responsibility at the time a loss or damage occurs, is considered the main (and most obvious) area of risk exposure. Fire, explosion, or ‘perils of the sea’ risks such as grounding, stranding, sinking, and capsizing, would be major risks for vessels. In some locations, war, strikes, piracy, or ice damage also pose risks. For goods being shipped by sea, there are the added risks of transit or wetting damage, theft, or short delivery – and all are common loss events. In addition to physical losses, liabilities incurred during maritime operations are a major risk exposure.

As economies emerge from pandemic restrictions, the health of port employees and visiting crews remains a major challenge. New ways of working, new technologies, and digitization present further challenges, but opportunities as well. Congestion and environmental regulations are also significant issues.

Cargo insurance primarily offers protection against accidental physical loss or damage while goods are in transit. However, it may be extended to cover goods in temporary storage, during their overall transit along the supply chain. Cargo insurance also typically offers additional cover for any general average or salvage charges that the cargo owner becomes obligated to pay.

Why Marsh

Powering possibility since 1871, Marsh is the world’s leading insurance broker and risk advisor. Marsh Singapore was established in 1972, supporting Marsh operations in the region and providing industry-focused consulting, insurance brokerage, and claims advocacy services to local and international companies operating in and out of Singapore.

Marsh’s Marine and Cargo Practice has over 700 colleagues in 26 offices across six continents. Work with all types of ship owners, contractors, ports, financiers, and cargo policies for all types of exports of manufactured goods and commodities, our extensive cross-industry experience allows us to bring in-depth insights, knowledge, expertise, and advice to our clients above and beyond the insurance transaction.

Our people

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Eileena Siah

Business Development Leader

  • Singapore

Get in touch with our Marine and Cargo representative to learn more about CargoSecure.