| Class: |
Ocean Cargo |
| Subclass: |
Ocean Cargo |
| Contact: |
Dianne R. Competiello |
| Coverage: |
Provides coverage for physical loss or damage to goods while in due course of transit. |
| Targeted Classes: |
Importers, Exporters, Manufacturers, and Freight Forwarders, including Air Legal and NVOCC coverage. |
| Exclusions: |
Apply to certain goods. |
| Geography: |
Worldwide - Except shipments to/from countries where trade is forbidden by the United States Government. |
| Extensions: |
Warehouse Inventory
Domestic Inland Transit
Foreign Inland Transit
Consolidation/Deconsolidation
Processing Coverage
Exhibition
Salesman’s Samples Floater
FOB/FAS
Debris Removal
Fraudulent Bills of Lading
Shortage from Container
Concealed Damage
Difference in Conditions
Returned/Refused Shipments
Guarantee of Collectibility
Unpaid Vendor
Reefer Breakdown
War Risks and Strikes, Riots & Civil Commotions (SR & CC) |
| Paper and Capacity: |
New York Marine And General Insurance Company
Maximum limits are $20,000,000. |
| Minimum Premium: |
$5,000 |
| Typical Insureds: |
Importers and Exporters
Wholesalers
Manufacturers
Distributors
Retailers
Bulk Commodity Shippers/Traders
Freight Forwarders
Petrochemical Traders |
| What It Covers: |
Covers against all risks of physical loss or damage for goods while in transit from any external cause or named perils subject to policy exclusions. |
| Underwriting Concerns: |
Type of Commodity
Geographical Scope
Loss Experience
Packing
Modes of Transportation
Loss Prevention |
| Tips: |
We have successfully written this class of business for over four decades and are committed to a high level of customer service and excellence in underwriting. A completed application with all details of the risk will enable us to provide prompt turnaround. |