Local Business Express

While maritime transport is one of the safest routes of freight movement, unavoidable risks can incur heavy damage or total loss of cargo. For example, in March 2021, it took almost a week to free a giant container ship that moved aground and clogged the Suez Canal, highlighting the major problems of maritime channels. While it will take years to decipher who will pay for the mess, the dramatic wedging became the center of attention to the obstruction management of the framework. According to the New York Times, the crisis cost the Egyptian government $90 million in lost toll revenues. So how to protect your cargo during overseas trade? Marine transit insurance compensates the insured party for the damaged freight and risks typical of maritime navigation. It will protect you from transit- risks, whether you own a yacht or ship with commercial intent or personal endeavours. By law, all shipping lines are responsible for offering maritime insurance, but we advise you to purchase additio...

Do you have several vehicles to insure? If yes, then to reduce the cost of insuring your vehicles, you can consider combining all of your truck contracts into one single contract: fleet insurance. In Australia, around 1 million vehicles are insured by fleet contracts. Characteristics Of A Fleet Transport Insurance Contract You often require to have five vehicles for a fleet transport insurance policy. But, now some insurance companies offer to insure with fewer vehicles as well(three for example). The vehicles insured in the fleet contract can be various: cars, scooters, motorcycles, utilities, heavy goods vehicles, and have different uses: transport of people, goods, workshop vehicles, etc. In a fleet transport insurance contract, drivers are not necessarily known, for example, in the case of a car rental company. Types Of Fleet Insurance: Closed fleet insurance contracts: In this transport insurance, the number, and characteristics of the vehicles are known, and when a ...