Incoterms (e.g., FOB, CIF, EXW) are international trade terms that define the responsibilities of the seller and buyer. They are critical as they determine the exact point in the journey where the risk (and responsibility to insure) transfers from the seller to the buyer.

“All Risks” coverage, typically under Institute Cargo Clauses (A), is the broadest form of cover. It protects against all risks of loss or damage, except for a few specific exclusions like willful misconduct of the insured, ordinary leakage, or inherent vice of the cargo.

General Average is a maritime law principle where all stakeholders in a sea voyage (ship owner and all cargo owners) share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole. Your marine cargo policy covers your contribution in such an event.

For frequent shippers, an “Open Cover” policy is much more efficient. This is an annual policy that automatically covers all your shipments that fall within the agreed terms. You simply declare each shipment to us as it happens, saving you time and ensuring you’re never uninsured.

No. These risks are standard exclusions in all marine cargo policies. They must be added as a separate extension by incorporating the Institute War Clauses and Institute Strikes Clauses. Given global instabilities, this is a highly recommended extension.

Typically, cargo is insured for its CIF (Cost, Insurance, Freight) value plus an additional 10% to cover incidental costs and a degree of lost profit. This is the standard in the Egyptian market and ensures you are adequately compensated in the event of a total loss.

STP is a comprehensive solution that combines transit and storage risks. It covers your goods from the moment they leave your supplier until they reach their final destination, including time spent in storage at your warehouses. It eliminates gaps between separate transit and property policies.

Do not give a “clean receipt” to the carrier. Note the damage on the delivery documents. Then, contact us immediately to initiate a claim and request a survey. It is crucial to act quickly and document the damage thoroughly to protect your rights.

Standard marine cargo policies do not cover financial losses caused by delays, even if those delays result in spoilage for perishable goods. The policy covers physical loss or damage from a covered peril, not consequential loss from delay.

It’s simple: Marine Cargo insurance covers the goods being transported. Marine Hull insurance covers the vessel (the ship or boat) that is transporting the goods. They are two distinct types of policies for different parties.

We provide offers from over 20 of Egypt’s top insurance companies, as we are trusted from the FRA.