First Policy - Insurance Brokers Company In India | Insurance agency

Moving goods by sea in international trade is both very affordable and quite uncertain. There are numerous risks to shipping, including fast storms, seafarer crimes, gear issues and mistakes, all of which could prevent a business from thriving. That is why making sure you are covered by marine insurance is necessary. It makes sure your cargo, ships and finances are always safe, in any circumstances at sea. Understanding Marine Insurance and Its Scope Marine insurance includes many different risks involved in shipping goods by sea. It defends shipping companies against risks and losses that might happen as the cargo travels. Regardless of if it’s raw materials or finished goods, marine transit insurance covers your goods the whole way. All importers, exporters, freight forwarders and logistics providers greatly need this kind of insurance. In most cases, a cargo insurance policy pays for losses to the goods you are shipping. Transit insurance is another form which focuses on transporti...

There is always risk present in the constantly shifting world of business. If problems occur due to defaults, lawsuits, cyber issues or mistakes in the company, the impact on finances can be huge. For this reason, companies are considering liability policy and trade credit insurance to cover their risks. They provide important protection related to finances, laws and technology. Comprehensive Protection with Product and Liability Insurance Product and liability insurance act as a first step in protecting a business against risks. It protects businesses from being sued because of product defects, physical injuries or damage to properties. Any manufacturer or retailer needs a product liability insurance policy. It pays the necessary legal fees, helps settle the matter and pays related costs so that the business can carry on even throughout lawsuits. Furthermore, public liability policy covers companies against damage or injury that third parties may suffer while at their premises or due...

  Marine insurance is an important insurance mechanism for firms that carry goods by sea, air or surface. Though it provides extensive protection for the cargo, vessels and transit hazard, it is important to know what is not protected. Marine insurance exclusions may leave firms uncovered if not attended to. Such exclusions help when coming up with better protection plans with the use of further coverages such as cargo insurance, freight insurance, and even a professional indemnity insurance policy for assistant firms. 1. Willful Misconduct and Negligence A willful misconduct of the insured, only being one of the most common exclusions in marine insurance , reads as: all losses incurred by the peril of the willful misconduct of the insured. If a ship owner or a cargo handler willfully disregard safety practices or operating procedures, any damage that may occur thereof may not be compensated. Similarly, gross negligence (e.g. overloading vessels, or failure to take weather warnings...

Safeguarding your goods and vessels depends heavily on marine insurance which operates as a vital component for logistics as well as transportation systems. The decision to select proper marine insurance determines both systematic operations together with reduced financial exposure for companies engaging in international cargo shipping or ship management activities. Marine insurance includes protection and indemnity insurance together with transit insurance as the principal coverage options. Each insurance carries protection against distinct maritime risks therefore businesses operating in maritime sectors need to recognize these differences for effective coverage. What is Protection and Indemnity Insurance? Protection and indemnity insurance (P&I) serves as a liability insurance which shields vessel owners and operators from operational risks associated with ship management. Protection and indemnity insurance extends coverage to multiple maritime incidents like vessel-to-vessel d...