International Marine Underwriters Enhances Ocean Cargo Coverage

May 30, 2019

International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has enhanced its ocean cargo policy with new coverages to address the needs of an increasingly global ocean marine market and a redesigned form.

The ocean cargo policy and extension includes:

  • Extended warehouse to warehouse time frame
  • Small package shipments via UPS, etc.
  • Extra expense for forwarding, landing charges
  • Contingent interests
  • Insolvency- Voyage frustration
  • Loading and unloading
  • Debris removal
  • Consolidation/deconsolidation
  • Shortage from container
  • Concealed damage
  • Terms to comply with Letter of Credit requirements

The company has refreshed its policy form as well so customers can review coverage details simply and quickly.

Customers will continue to have access to additional features and services such as IMUCargo.com, an online resource offering 24/7 access to electronic certificate of insurance issuance, risk management reports, vessel information database and a worldwide network of claims agents.

Coverages and availability vary by state; exclusions and deductibles may apply. Please refer to the actual policies or consult with your independent insurance advisor for descriptions of coverages, terms and conditions.

International Marine Underwriters offers a full range of ocean marine insurance products across the U.S. and Canada. Ocean marine products include, but are not limited to, commercial hull and marine liabilities at both the primary and excess levels; ocean and air cargo with coverage extensions such as inland transit, exhibition, warehousing and processing; yachts; and several marine package products with comprehensive property, auto and liability coverage.

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