It covers the loss or damage to during the movement of the cargo from one port or country to another. The conveyance can be by Sea, Air or Land. Either the buyer or the seller can purchase the Marine Cargo insurance depending on your sales contract which most commonly is Free On Board (FOB), Cost and Freight (C&F) or Cost, Insurance and Freight (CIF).
Allianz Insurance Laos
1. Marine Cargo Insurance
Marine Cargo insurance provides coverage with options of protection against all risks or loss from accident only during the transportation of goods and merchandise – anywhere from the time your goods leave the premises of the seller until the time they arrive at the buyer’s premises
2. Inland Transit Insurance
Inland Transit insurance provides coverage against loss or damage by accident