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    Definition of cargo insurance

    Dictionary of Business Terms: cargo insurance
    cargo insurance

    shippers' policies covering one cargo exposure or all cargo exposures by sea on all risk/all peril basis. Exclusions include war, nuclear disaster, wear and tear, dampness, mold, losses due to delay of shipment, and loss of market for the cargo. One Cargo Exposure (Single Risk Cargo Policy) covers a single shipment of goods and/or a single trip. All Cargo Exposure (Open Cargo Policy) covers all shipments of goods and/or all trips.

    Dictionary of Insurance Terms: cargo insurance
    cargo insurance

    shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, dampness, mold, losses due to delay of shipment, and loss of market for the cargo.One Cargo Exposure (Single Risk Cargo Policy) covers a single shipment of goods and/or a single trip.All Cargo Exposure (Open Cargo Policy) covers all shipments of goods and/or all trips generally used by most shippers that require automatic coverage for all of its shipments, subject to 30 days' notice of cancellation.

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