ASSURESCO - Courtage d'assurance

Import/Export/trading

Our piece of advice:

• As a small company, or if your export flux is moderate, trust your carrier and use its cargo insurance policy.
• If your freight activity is more important, you will be better of making a distinction between transport costs and insurance costs. You may then arrange your own cargo insurance.

About cargo insurance:

Cargo insurance aims at offsetting the losses and damages occurring to your cargo during transport. It covers also theft, pilferage and the disappearance of the insured cargo.

This is our preoccupation and specific job.

A frequent confusion is made between freight forwarder’s liability insurance and cargo insurance.

The carrier is bound to a given service level. However, in case of damage to the goods, it benefits from limitations to its liability, according to international agreements or to standard contracts. Such standard compensations are frequently much lower than the actual value of the goods.

And if the carrier has not been recognized liable for the damage (act of god), he will not pay for it by any mean.

Conversely, by arranging cargo insurance, the haulier will be refunded on a basis he has himself chosen.

Assuresco may also provide substitution insurance policies: reciprocal insurance, seller’s interest, DIC/DIL, covering the importing part against defaults due to the seller’s insurance company.

What does “ad valorem” insurance mean?

The insurance premium is here defined by a rate applying to a given insurance value.

• The insurance rates are determined by several criteria:
• The nature of the cargo
• The maximum value per transport mean and per shipment
• The value of the cargo, its weight
• The port of origin, of destination, break bulk, transhipments
• Packing (container, pallet, bulk…)
• Transport ways (marine, air, river, road transport)
• Nature of the contracts or terms (Incoterms)

Contact :

Eric Boué
00 33 1 45 26 83 45
e.boue@assuresco.fr
More than 25 years experience in marine & transport insurance matters.