Marine Insurance FAQ

I am an importer and I have not purchased an insurance premium. Surely my supplier has?

This is a typical question and assumption but unfortunately the answer is often that the supplier has not provided insurance. There are some simple rules, out-lined in our incoterms info guide, which explains at which point the risk transfers from seller to buyer. For example, if you are importing on CFR terms, the likelihood is that the risk transferred from the seller at the point that the goods were loaded to the vessel at origin. If you, as the buyer, have not purchased an insurance premium, the goods are probably uninsured.

The goods have already been shipped and I have forgotten to purchase an insurance policy. Can this be done retrospectively?

The policies issued by Cardinal Maritime specifically require us to issue the same in advance of the cargo being collected and loaded for shipment. Therefore, we will be unable to provide insurance after your goods have been loaded for shipment.

Do you provide additional packaging/protection to the cargo before shipment?

Unless we are instructed to provide these additional services, it is likely that your cargo will be loaded for shipment in the same condition as received by us. It is important that you adequately pack and label the cargo to ensure its safe delivery at destination.

The goods have arrived damaged and we need you to send a surveyor to assess the damage

In the event that Cardinal Maritime has provided insurance, we will be able to instruct a surveyor to visit you and provide a full inspection report of the damages. However, if we have not provided insurance, you will need to instruct your own surveyor to carry out this process; the cost for which will form part of your claim. Please remember that unless the cargo is insured, the value of any compensation payment will be limited and unlikely to cover the value of your claim.

How do I lodge a claim?

A full explanation regarding this process can be found on theĀ lodge a claim page within this section.

The goods were received sometime ago and I need to know whether I can still lodge a claim?

All claims must be made immediately upon delivery of the cargo. Indeed, it is essential that upon receipt of the shipment, any reservations regarding the condition of the cargo are written on the delivery note. Claims must generally be made within 14 days of the delivery being received but please refer to the shipping documentation issued and this can vary from country to country.

If the ship sinks will I be compensated?

It all depends on whether the goods have been insured. If you have contracted insurance to Cardinal Maritime or a third party, the likelihood is that your claim will be settled in full by the employed insurance underwriter. However, if insurance has not been obtained it is probable that no compensation will be provided. Insurance is an essential component of international trade.


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