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CargoSecure

Underwritten by a reliable panel of insurers with pre-agreed wordings for a fast quotation and application process, Marsh Singapore’s CargoSecure provides businesses in Singapore with market-leading cargo insurance coverage beyond basic policy terms up to a US$10 million limit per shipment, with coverage extensions and dedicated claims support for peace of mind.

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CargoSecure: Designed by Marsh Singapore to protect your shipment — and your cash flow

Companies in Singapore often face challenges procuring the appropriate insurance coverage for different cargo types and sizes, as well as potential complications during the claims process in the event of accidental physical damage or loss.

CargoSecure protects against accidental physical loss or damage to your cargo while in transit anywhere in the world (excluding sanctioned countries), minimising your financial exposures while providing the following benefits:

  • Enhanced protection for all cargo types including hard and soft commodities. 
  • Competitive premiums and deductibles from an A-rated multi-insurer panel with in-depth knowledge of cargo products, Singapore's local maritime landscape, best practices, and regulations.
  • Simplified and prompt administrative processes from application to claims settlement, with placement and confirmation of binding within 24 hours.
  • Dedicated technical and claims enquiries and support.

What are the risks covered by CargoSecure’s enhanced coverage?

CargoSecure not only covers standardised risks such as war-related perils, damages caused by civil commotions, missing goods, and other common risks with typical exclusions, but also includes coverage extensions not typically covered under small-sized cargo policies.

CargoSecure’s enhanced coverage is included as part of the cost-competitive premium, with coverage for items such as consumer products, hard and soft commodities, temperate-sensitive goods, as well as for differences between loaded and received quantity and goods that have been contaminated in the shipping process, with the ability to accommodate large risks when required.

CargoSecure consists of four types of coverage, giving your business the flexibility of choice to ensure the appropriate coverage for your needs.

*Worldwide coverage is subject to Sanction Limitation Exclusion clause.

Our representatives can advise which policy best fits your needs, as well as the appropriate limit. For policy coverage and exclusions, please refer to the FAQ below.

FAQs

What is cargo insurance?

Cargo insurance primarily offers protection against accidental physical loss or damage while goods are in land, sea, or air transit. It can be extended to cover goods in temporary storage during their overall transit along the supply chain.

Why do you need a cargo insurance policy?

Aside from insuring your shipments against damage or loss during transit, some transactions require an insurance certificate (or proof of marine cargo insurance coverage) from facilitating financiers as part of a standard documentation process. Even if such a requirement is optional, it is prudent to arrange a policy to protect your transportation exposures.

For marine shipments, a cargo insurance policy can also insure against the potential risk of accidental damage and loss during any transit, especially considering prevailing geopolitical tensions and extreme weather risks.

Is Marsh Singapore’s CargoSecure suitable for all companies?

Yes, CargoSecure is suitable for all companies registered in Singapore seeking coverage for up to US$10 million limit per shipment (domestic or international).

Is Marsh Singapore’s CargoSecure for buyers or sellers?

CargoSecure is for buyers and sellers engaged in international and/or local trade, and is not limited to importers, exporters, freight forwarders/logistics operators, traders, manufacturers, and project contractors.

What other cargo solutions does Marsh Singapore offer?

Other than CargoSecure, Marsh offers a variety of cargo solutions for businesses catering to their diverse needs:

MarshCargo: A cloud-based global cargo insurance account management platform allowing users to manage multiple policies easily.

Digital Shipper’s Interest: Allows logistics and supply chain providers to offer an integrated option for purchasing cargo and parcel insurance.

Stock Throughput: Enables importers, distributors, or export merchandisers to gain greater control of inventory risks with coverage across the entire supply chain, from the supplier or point of origin to the goods’ final destination.

Why Marsh

With over US$339 million in cargo premiums placed across 13 markets in Asia, Marsh has helped over 3,800 businesses in the region place cost-effective and comprehensive cargo insurance coverage. We are committed to simplifying the complex process in cargo insurance applications and claims management to provide businesses with market-leading coverage, supported by a large team of cargo specialists committed to providing personalised assistance at any time of need.

CargoSecure

Protect your shipment with cost-competitive and enhanced coverage that truly meets your needs today.