The What’s, Why’s, When’s, Where’s and How’s of ocean cargo insurance can present a very confusing picture if you don’t do your research. But the truth is that if you don’t have it at all, you could end up partly responsible for the loss of a sunken cargo ship, as well as your own shipped… Read more »
Tag: Common Cargo Risks
Watch Out for Carrier Impersonators, Identity Parasites who Steal Cargo
When you hear or read the phrase “cargo theft”, you likely picture a twenties-styled heist, or maybe a sneaky rogue who lifts a few packages in the night. While these things happen, they’re less common than obvious full-truckload theft, which is where you should focus your attention. Few people realize how unfortunate and ubiquitous full-truckload… Read more »
Cargo Ship Breaks in Half. Crew is Safe, Cargo is Not
Remember that time we said it can happen, and it will? Global Logistics Media reported a disaster last week, and we’re not using the term disaster lightly; this ship broke in half. Luckily, the crew survived, but we can’t say the same for the cargo. Some cargo suffered damage, but the crew lost some overboard… Read more »
Understanding Risks & The Importance of Cargo Insurance
Do Not Overlook Cargo Insurance Cargo Insurance is crucial due to the current act that limits uninsured ship-owners to $500 per unit. It does not matter if you have $200,000 worth of equipment inside of that unit; you will only receive $500 for that “container”. The limits set in place by the Hague/COGSA act protect… Read more »