Fusion has launched the first all in one commercial...
Fusion has launched the first all in one commercial combined insurance policy to include worldwide marine cargo cover, it claimed.
The company said: “Despite the fact that for traders the movement of goods is a natural consequence of their trading process the insurance market requires them to buy a separate insurance to cover it. This can lead to gaps in coverage between the two sets of wordings, potential disputes between different insurers leading to delays in paying claims.”
It added: “Also most traders import or export goods to make a profit but in the event of loss or damage a traditional marine insurance usually only provides sufficient funds to replace the goods. It does not insure for the profit lost upon final sale and in any event does not cover losses arising from delay which can of course disrupt the final sale or the price when the goods get to market.”
