Fidelity Assurance & Reinsurance Co. S.A.L. | Cargo insurance Lebanon | Marin Insurance Lebanon

CARGO INSURANCE LEBANON

Our Cargo insurance in Lebanon covers your shipments against perils or risks that might occur during transport, whether by sea, by air or by land.

Different coverage is available depending on the nature of the goods, the destination and the packaging. Covers on transported goods may be on a Total Loss basis or on a wider basis up to the Full Cover.

Fidelity caters for the insurance of Cargo Vessels, Yachts, and Leisure Boats. Hull coverage for vessels & other crafts may be extended geographically to different areas of the world, according to the insured’s needs, and vary according to the kind of vessel and the nature and the degree of risks. They also include liability to third parties.

In keeping with our commitment to providing a single-source for our customers’ transportation and logistics solutions, Fidelity not only works to minimize transportation-related risks, but also offers marine/air insurance for coverage of all shipments against loss or damage. All-risk offers broad coverage against loss or damage from external causes. Although it is called “all-risk," most policies exclude many types of damage from coverage. These may include damages from improper packing, infestation, rejection by customs, and abandonment of cargo and employee dishonesty, among others.

It is very important with all-risk coverage that you examine your policy carefully to determine what types of loss are not covered. The advantage of all-risk coverage is that it is not necessary to first prove the carrier’s liability to claim damages. The insurance will pay out regardless of who is at fault. Cargo insurance in Lebanon use and emphasis can vary by company, since cargo transport is often an international process. Countries have different attitudes toward global shipping with regard to imports and exports, taxes and use of waterways.

More companies are starting to recognize the importance of cargo protection, SITPRO notes in its International Trade Guide. Cargo insurance in Lebanon is a unique insurance product that effectively shares benefits of coverage between the exporting trader and the importing buyer, who benefits from coverage on damaged goods purchased. Insurance companies explain that exporter-provided freight insurance is a service to buyers as it covers the investment in products. The site indicates some global buyers require exporters to include cost in freight insurance or another form of cargo coverage on transports. This creates a competitive importance for cargo insurance in Lebanon. Some exporters expect buyers to arrange and cover insurance based on their specific requirements.