When It is Right To Claim Insurance If The Shipping Company Loses Your Cargo?

When a ship gets damaged on the way to its destination, the insurance company gets liable to pay the compensation for the damages. However they first require you to submit all the necessary documents and bill in order to get that compensation. Suppose your shipping catches fire on the course and you want to claim the compensation of loss, you need to first decide the extent of the loss.

Was your cargo completely destroyed due to the fire or was it heavily damaged? Did the containers get destroyed because of the fire caught by the other containers? The answer to these questions will shift the focus to the general average and will be a decisive factor in your claim.

You will be relying completely on the bills

If such an accident occurs then you will have to be guided thoroughly by the bills of lading. Those bills will mention the kind of damages which are covered by the insurance policy. First you will need to look at the definitions. These definitions actually define an accident. The mishap must fulfil the conditions specified by the definitions in order to make the ship owner eligible for the compensation.

The second thing to notice is the carrier’s responsibility. This will specify the responsibilities which are supposed to be fulfilled by the carries. In case of any accident, these responsibilities will decide the course of action which will be adopted the insurance company.

Other methods

Floating-out type launching, Mechanical Type launching, Airbag launching. All the three methods are deemed to be effective in their own unique way.

Film insurance is one of the best way to provide financial security when shooting a movie/documentary.

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