Insurance Care Protection
At Euro-Transport Intl. we diligently make sure that all of our carriers bear the right protection and insurance to protect your belongings while they are being transported. However there is some limitations that you should be aware of in regards of the liabilities that governs the carriers and movers in the industry. We offer the insurance protection from Marsh Inc.
Who is MARSH?
Marsh Inc. integrates the resources of Marsh & McLennan, Johnson & Higgins, and Sedgwick -- firms with histories of developing innovative solutions to their clients' risk issues since the 19th century.
Marsh Inc., is a subsidiary of Marsh & McLennan Companies (MMC), a global professional services firm with more than 50,000 employees and businesses in risk and insurance services, investment management, and consulting.
For more information on Marsh and the MMC group of companies, visit http://global.marsh.com/
Which protection to choose?
There are three standard valuation options from which to choose. These options should be discussed with your sales representative prior to the move so that the best available option may be selected for your specific moving needs. Here is the protection offered by Marsh's CargoCover policy.
1 – Protection against perils for the entire shipment. (Total loss)
This is the most basic protection offered. This is CargoCover “C” class policy. This policy only covers :
- Fire and Explosion
- Vessel or craft stranded, grounded, sunk or capsized
- Overturning or derailment of land conveyance
- Collision or contact of vessel, craft or conveyance with external object
- Discharge of cargo at port of distress
- General Average sacrifice
- Jettison
- General Average and salvage charges
- Loss Overboard
- Theft
- Non-Delivery
This protection only covers the entire shipment. The insured won't receive any indemnity if only part of the shipment is affected by a point covered by the policy.
2 – Protection against perils.
This is the intermediary protection. This is CargoCover “B” class policy. This policy covers the same points as the “C” class policy, but for all parts of the shipment. The insured will receive an indemnity if part of the shipment is affected by a point covered. However, the indemnity will only covers for the affected goods.
The value of the premium is 2.5% of the declared destination replacement value for all items.
3 – Protection against perils and breakages. (Full coverage)
This is the best protection offered. This is CargoCover “A” class policy. This policy covers the same points as the “B” class policy, but include coverage against breakage. However, the goods must be professionnaly packed at the origin, and professionnaly unpacked at the destination.
The value of the premium is 3.5% of the declared destination replacement value for all items.
Information about CargoCover
There is no minimum requirement for insuring under CargoCover. The insured value is the replacement cost of all items at destination. There are procedures in place on CargoCover which help to protect the Insured :
- Providing a copy of the Personal Effects Procedures for Insured.
- Itemized valued inventory which must be completed with replacement values at destination.
- Copy of the Insurance Acknowledgement Form which must be signed and returned prior to shipment departure date. This form gives a summary of some of the coverages and exclusions, but not all.
- Copy of the Insurance Certificate which must be provided to the Insured prior to date of departure.
