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Marine Cargo
Specialty
AXA XL Insurance offers marine cargo insurance and freight liability insurance for large, complex operations as well as smaller companies. Cross-border cargo insurance coverage designed to comply with licensing and tax requirements is available.

Product details

Capacity

USD 100 million

Coverage

AXA’s marine cargo insurance covers cargoes on land, at sea and in storage — and the full spectrum of risks from damage in transit to war and terrorism. We also offer professional liability insurance for freight forwarders, logistics companies and land carriers.

Through AXA XL WorldPass, we provide multinational companies with cross-border solutions, designed to comply with licensing and tax requirements. And our online service allows brokers to find marine insurance quotes in minutes for clients with smaller value cargoes.

Our appetite – general cargo

  • All general cargo risks
  • Stock throughput – combined stock and transit risks
  • Stand-alone storage (not necessarily linked with a transit risk) on an Excess basis
  • Marine consequential loss – financial losses following physical loss or damage
  • Project risks, including delay in start-up
  • Transport-operator liability – combined carriers and general liability of transport-operators
  • Carrier’s liability for the logistics industry

Online service:

  • A full cycle portal (quotes/policies/mid-term adjustments and renewals) for annual SME general cargo risks within the £350 to £15,000 premium range
  • Minimum Premiums:
    • Single cargo shipments - £ 150
    • Annual – £ 350
  • Maximum Transit limit £ 5,000,000
  • Imports/exports
  • UK to UK shipments
  • UK stock cover up to 10 named addresses
  • Exhibitions
  • Tools and samples whilst in engineers vehicles

Freight Liability:

  • Haulers/Freight Forwarders/Warehousekeepers liability (Contract conditions: RHA/CMR/BIFA/UKWA)

Client Profiles

Various kinds of business in need of cargo insurance, including the following:

  • Multinational companies, including captives
  • Large single-nationality companies
  • Upper middle market companies
  • Public companies
  • Private companies
  • Retail brokers
  • Wholesale brokers

Typical Information Required

  • Policy terms/coverages required
  • Five-year loss history
  • Types of goods and packaging
  • Detailed information about shipments (imports/exports /inter-company), including type of conveyances, sales terms (Incoterms) and geographical area

Benefits & Services

  • Licensed to write multinational risks through Lloyd’s
  • Global claims network for marine insurance, offering detailed intranet live claims overview
  • General risk engineering services (including supply chain analysis, assessment of logistic procedures, loss prevention reports, location surveys and more) and dedicated cargo risk engineering capabilities
  • Risk monitoring via worldwide single access IT-platform
  • Electronic insurance certificate tool
  • Provides worldwide insurance program solutions, including issuing centrally steered local policies through AXA's Insurance segment offices, our Lloyd’s syndicate or network partners

Information and Research

Marine Cargo Insurance Terms

Insurance Acronyms

Minimum Deductible

Varies by goods insured

Minimum Premium

Varies by country

The information contained herein is intended for informational purposes only. It’s is neither an offer to sell nor a solicitation to purchase any particular insurance product. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy forms for specific coverage details. AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance, AXA XL Art & Lifestyle and AXA XL Risk Consulting. In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA Group. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.

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