XL Catlin's Americas marine business has launched a new cargo insurance product, which enables businesses to manage increasing risk task of transporting goods.
The new insurance policy provides cargo insurance coverage on a domestic, foreign or worldwide basis.
It also offers warehouse or storage coverage extensions that are available globally.
The new product provides insurance coverage for control of damaged goods, as well as for pairs and sets, and brands and trademarks.
It also offers coverage for recoopering and repacking, expediting expenses, exhibitions and special property floaters.
XL Catlin insurance firm XL Specialty Insurance will offer the enhanced cargo coverage for customers with liability limits of more than $50m.
XL Catlin’s Americas Marine business chief underwriting officer Anne Marie Elder said: "To move assets, goods and products from point A to point B, businesses are contending with complex logistics, compliance issues and increasing threats of theft – to name a few.
"This enhanced policy extends coverage to address cargo exposures that continue to grow in size and complexity."
XL Catlin’s global marine business offers insurance to customers with special coverage needs for marine or offshore energy exposures, comprising of cargo, blue water and brown water hull, P&I, as well as excess and primary marine liability.
Image: XL Catlin XL Catlin’s Americas marine business has launched a new cargo insurance policy. Photo: courtesy of Vichaya Kiatying-Angsulee / FreeDigitalPhotos.net.