Why YOU Need It!

As the cargo owner, shipper or receiver, there will be occasions when your cargo will be damaged or lost in transit.

Who will pay for the loss? The Carrier?

Not Necessarily!

The loss may not have been his fault, or his conditions of business may limit his liability, or even exclude it all together. Equally, it may well take months to prove your case – costly in time and effort, not to mention legal expenses.

N.B. – Ocean carriers’ liability ex Canada is subject to Hague-Visby 1979 Protocols wherein liability is determined basis of 2 SDR per kilo or 666.67 SDR per package, whichever is greater. This liability applies to the ocean portion of transportation only and may not apply on imports, unless the cargo originates in a country which applies the 1979 Protocol.

Note that in the case of a multimodal move where loss and/or damage occurs either before or after having left the ocean vessel (say in trucking to a depot for stuffing), the limitation mentioned above would not apply, and you would be subject to the carrier’s multimodal bill of lading limitation.

Marine insurance also protects against “Average Bonds” arising as a result of a carrier’s declaration of “General Average” and “Salvage Bonds” arising out of a vessel’s being subjected to a salvage claim, both of which will ultimately result in the assessment of an average or salvage adjustment.

As an experienced marine insurance broker, Gillespie-Munro Inc. is capable of responding to your needs in this area, with advice as to coverage options and competitive rates.

Ask Us!

Peace of mind is probably less expensive than you think.

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