Almost half of all cargo in transit is insufficiently insured. Consignees and shippers are often not aware of who is at risk and who is liable. Geodis Wilson can offer you cargo insurance at competitive rates worldwide. A few countries in which Geodis Wilson is represented are restricted by local legislation from offering this service, but if this is the case you will be advised by your local Geodis Wilson contact. Normal goods are insured on an "all risk" basis and certificates can be obtained immediately from your Geodis Wilson office.
As our offices are online with insurers via e-mail and the Internet, Geodis Wilson can also usually provide quotes for tailor-made solutions within 24 hours to meet any specific requirements you might have as a Geodis Wilson client.
Please speak to your local contact at Geodis Wilson who will assist you in the process, click here to find your local Geodis Wilson office. Please note that your formal request to Geodis Wilson instructions to insure your goods must be in writing.
Why insure?
While cargo insurance might be a legal requirement (L/Cs, CIF terms etc.) it also safeguards against unpleasant surprises if an incident occurs for which the carrier is not liable and against the limited, weight-based compensation received under international transport laws and conventions even if the carrier is liable.
Insurance products
Cargo insurance
This insurance covers you against loss of or damage to goods. Normal standard goods are insured under Institute Cargo Clauses A (ICC A), which is equivalent to the former All Risk insurance.
Storage insurance
This covers the goods while they are in storage, outside the normal course of transit. The insurance is offered subject to ICC A conditions if the goods have been covered by cargo insurance obtained through us prior to storage.
In other cases, insurance is offered on restricted ICC B conditions which only covers losses arising as a result of fire, burglary and water damage.
Special risks
We can obtain special quotes for project shipments, heavy goods, transport interruption, seller's interest, delay etc.
These quotes can normally be obtained within 24 hours depending on the shipping information supplied to us.
Insured value
The insured value of the shipment to be insured is obtained by adding:
Invoice value + freight + 10% imaginary profit (C&F+10%)
It is vital that the goods are insured up to the full value at risk. If the goods are underinsured, a claim will be settled pro rata between the full invoice value and the loss amount.
Risks and costs
In daily trade between two parties terms of trade are normally agreed on, which also decide which of the parties is to bear specific risks and costs etc. A widely-used method to determine this is to use the International Chamber of Commerce (ICC) international rules, Incoterms 2000, for the interpretation of trade terms.
If you have specific questions regarding transport risks, cargo insurance etc., please send an E-mail to our Risk Manager, Björn Asp, who will reply to you personally and also include the question in the FAQ-section to the right if it is of general interest.
Further infomation:
Combiterms 2000 (PDF)
Risks & Costs in connection with trading - Incoterms 2000 (PDF)
Download our Cargo Insurance leaflet (PDF)