Cargo insurance covers losses arising from physical damage to goods, while being transported around the world, whether by road, rail, sea or air and even in storage. This coverage is especially important when importing or exporting goods overseas as goods can be handled by various companies over many continents.

Depending on the scope of coverage selected by a client, cargo insurance policy may cover all risks of physical loss of or damages to the cargo or the following risks:

Stranding, Grounding, Sinking or Capsizing, Overturning or Derailment of Land Conveyance, Fire or Explosion, Malicious Damage, Theft or Pilferage, War Risks (Except Piracy), Seawater Entering Ship, Craft, Hold, Conveyance, Container Lift Van or Place of Storage, River or Lake Water Entering Same.

Currently Kuraz Insurance has reinsurance facility placed with Protect Syndicate of Lloyd’s. The facility covers construction related cargo shipments to Iraq. All shipments are insured on the basis of the Institute Cargo Clause “A”, plus Political Violence risks. The facility can be extended to cover other types of cargo. The territory is Worldwide to and from Iraq, covering either air, sea, or land shipping, or multimodal shipping.