Marine Cargo insurance is the insurance of property being transported from one place to another.
Marine transport was the worldwide mode of transport for imports and exports when the Marine Insurance Act 1906 (MIA) was written. The Act refers to marine losses, adventure and perils in its opening sections, yet most marine insurance departments insure property that is also conveyed by air, road and rail.
Many transits of goods require more than one mode of transport, especially those overseas, and the Act makes provision for those.
In essence, marine cargo insurance covers property while in transit against loss or damage arising from the perils of sea, air and land transportation, including inland waterways.
For further details please contact one of our broking team on 0161 833 2100