Glossary → Insurance policy (cargo policy)
Insurance policy (cargo policy)
An insurance policy (cargo policy) is a document confirming that a cargo insurance contract has been concluded for a shipment. It sets out the coverage terms, the sum insured and the clauses; insurance costs may be included in the customs value.
A policy is issued for a specific shipment or as an open (blanket) policy covering a stream of shipments. Under certain Incoterms (CIF, CIP) the seller arranges the insurance.
We will help you insure the cargo and correctly account for the insurance in the payment calculation.
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