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Why Insure

Experts estimate that cargo theft losses throughout the world are as much as 50 billion a year.  When ocean carriers are found to be negligent and have caused loss or damage, their bill of lading will normally protect them to a liability of no more than $500 per freight unit.  (i.e., one container or one pallet, depending on the quantity described on the carriers ocean bill of lading).  Depending on the countries involved, air carriers can only be held liable for somewhere between $20-30 per kilogram of cargo.  Many domestic carriers and warehouse operators limit their liability to $0.50 per pound or $50 per shipment.  All-risk insurance protects our shippers or consignees who have purchased coverage.