
We have all heard stories of import cargo arriving with water or moisture damage and the Insured/Consignee complaining bitterly when their claim is denied, believing that they have paid a lot of money for insurance that is worthless. It is even more frustrating when we come across these claims with Insureds/Consignees that are regularly importing (or exporting) goods via containerised cargo.
Insured peril
So when is water moisture damage on containerised cargo covered by Insurance? Firstly, let’s make a few assumptions to keep this simple: we will consider the cargo as being a Full Container Load (FCL) and that the Policy coverage is Institute Cargo Clauses (A) [ICC (A)], which is All Risks.
Continue reading “The effect of water moisture damage on containerised cargo”