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Cargo insurance is a type of insurance that provides coverage for loss or damage to goods during transportation. It is designed to protect the financial interests of businesses involved in the shipment of goods, including importers, exporters, manufacturers, and logistics providers. The importance of cargo insurance can be understood by considering the various risks involved in the transportation of goods. During transit, cargo is exposed to numerous potential hazards such as theft, accidents, natural disasters, fires, and rough handling. These risks can result in significant financial losses if the goods are damaged, lost, or destroyed. Cargo insurance provides financial protection against such risks by compensating the insured party for the value of the lost or damaged goods. It covers both domestic and international shipments, ensuring that businesses are not solely responsible for bearing the financial burden in the event of unforeseen circumstances. Here are a few reasons w...
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