Cargo claims, general average and traps for the unwary

Cargo interests claiming on their insurance for substantial sums – arising sometimes from common incidents such as theft from shipping containers, and piracy – can have their most confident expectations dashed, experts warned recently

The detail in standard policy clauses can deliver big shocks to the ledgers of cargo underwriters dealing with even minor damage to goods carried by sea, speakers said during the Spring 2016 seminar of the Association of Average Adjusters, which was organised in conjunction with the International Underwriting Association.