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Insurance

 

 

Ocean cargo insurance (marine cargo insurance) and Air freight insurance is important on export or import shipments. Under the Carrier of Goods by Sea Act, ocean carriers are responsible for the seaworthiness of the vessel, fires, dangers and accidents of the sea, acts of God, acts or war, seizures, strikes, riots, inherent defect, insufficency of packing, quarantine restrictions and any other causes arising without the actual fault of the ocean carrier. Without transportation insurance, even when carrier can be proven liable responsibility is limited to $500 per "package" on ocean shipments and $20 per kilogram on air shipments.