Insurers need to understand the goods being transported and the nature of the journey before providing Marine Cargo terms.

What information is usually required about the goods? #

This can include:

• Description of goods.
• Whether goods are new or used.
• Maximum value in any one shipment.
• Annual value of goods transported.
• Whether goods are fragile, hazardous or temperature-sensitive.
• Packaging methods.

What transport information is required? #

Insurers may ask about:

• Road transport.
• Sea freight.
• Air freight.
• Rail.
• Own vehicles.
• Third-party carriers.
• Courier services.
• Containerised or non-containerised cargo.

What geographical information is needed? #

For international cargo, provide details of:

• Countries of origin.
• Destinations.
• Transit routes.
• Ports.
• Any higher-risk territories.

For domestic cargo, insurers may still need to understand where goods are transported within Australia.

What other information may be required? #

Depending on the business:

• Annual number of shipments.
• Maximum accumulation at any one location.
• Incidental storage.
• Loading and unloading arrangements.
• Incoterms used for international trade.
• Previous cargo losses.
• Required policy limits.
• Existing insurance.

Accurate maximum shipment values are particularly important because annual policies can apply limits to any one conveyance or location.