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Insurance and Liability Coverage

The security of your cargo is paramount. Whether importing or exporting, we will advise you on the risk factors and arrange cargo insurance from our panel of reputable insurers. Customized coverage, cost effectiveness and efficient claims processing are pre-requisites.

Airlift Associates Sdn. Bhd. can arrange all your insurance requirements through its close working relationship with brokers, underwriters and claims administrators. Airlift Associates Sdn. Bhd. offers competitive ocean and air marine cargo insurance placed with brokers who are specialists and well regarded in this field. We take care of the paperwork involved in marine insurance, including certificates, reports and other documentation required.

Since we handle your shipments, we have most of the paperwork needed when filing any claims. From filing the claim until the final cheque is paid we are there to assist our customers. Two major forms of cover should be considered by importers and exporters.
A voyage policy covers cargo for a single trip described in the policy.
An open cargo policy - essentially a reporting form policy that covers all goods shipped or received by the insured during the term of the policy

The insured periodically pays premiums to the insurer based on reports from the insured of covered shipments. This is better suited to the needs of an insured who frequently ships or receives goods overseas. The open cargo policy also permits the insured to prepare "special policies" or certificate of insurance as may be required in ocean commerce. A special policy is a complete insurance policy that is sometimes required to accompany a shipment of cargo and is assignable to anyone having an insurable interest in the property during the course of transit. Risks against which all importers and exporters should consider taking insurance cover as appropriate include:

Loss of or damage to goods caused by perils arising during the normal course of transit by sea, land and/or air, including theft and pilferage.
From suppliers' warehouse to your own warehouse or 60 days after discharge of goods from vessel whichever occurs first.
General average and salvage charges.
War and strikes risks.
Riots and civil commotions risks.
Insolvency of vessel owners covered.
Packing risks covered if goods packed by third parties.
Change of voyage held covered.
Open cover facility.

 

 


 
     

 

 

 

 

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