What do you mean by cargo risk?
Cargo risk management is the identification, analysis and control of risk associated with cargo within transportation service, Logistics or supply chain network. The impact of a cargo loss in today’s competitive business environment extends far beyond the amount that may be recoverable through an insurance claim.
What is cargo property insurance?
Motor Truck Cargo insurance (Cargo) provides insurance on the freight or commodity hauled by a For-hire trucker. It covers your liability for cargo that is lost or damaged due to causes such as fire, collision, or striking of a load.
Who is the beneficiary on cargo insurance?
Delivery of the Equipment is required by the purchaser on CIF basis, the supplier shall arrange and pay for Cargo Insurance, naming the purchaser as beneficiary and initiate and pursue claims till settlement, on the event of any loss or damage.