Ocean Marine Cargo
Innovative coverage for complex marine cargo risk.
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Deep Ocean Marine Cargo expertise, consistent underwriting, flexible solutions, and a rigorous approach
Your trusted partner offering unmatched expertise, consistent underwriting, and flexible solutions. With our flexible underwriting and a disciplined approach, we deliver stable, creative coverage for your most complex marine cargo risks.
Expertise
We represent a dynamic team that combines deep marine cargo knowledge with innovative thinking. Our experienced professionals understand the nuanced complexities of each unique marine cargo risk, providing intelligent, tailored solutions that eclipse standard coverages.
Stability
Munich Re Specialty, Ocean Marine Cargo is committed to responsible, consistent marine cargo underwriting. Unlike carriers who chase trends or make reactive market changes, we maintain a steady approach that brokers can trust. Our commitment means we won’t suddenly change course or abandon product lines, ensuring you have a reliable partner through market fluctuations.
Partnership
Our team is dedicated to responsive communication, quick problem-solving, and understanding your specific needs. From claims handling to risk assessment, we work alongside our broker partners, offering collaborative support and creating long-term connections that extend beyond transactional interactions.
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Target industries and commodities
Most international and domestic shipments
Alcohol/liquor distribution
(except winery/vineyard or distillery exposure)
Containerized liquid and dry bulk
Breakbulk
Owner or contractor-controlled projects
Midstream/downstream petrochemical, oil, and gas
Power generation
Mining
Pharmaceutical plants
Terminal expansion
Out of appetite
Automobiles
Raw cotton/hay as stock
Container leading
Retail over incidental to risk
Mobile phones
Standalone warehouse
Ocean Marine Cargo coverage
Capacity
General cargo
- General cargo/stock throughput: $40,000,000
- Cargo liability: $40,000,000
- Motor truck cargo: $2,500,000
Project cargo
- Project cargo and delay in start-up: $100,000,000
Territory
- Worldwide
Coverage details
General cargo
- General cargo
- Stock throughput
- Cargo legal liability
- Motor truck cargo (non-standalone basis)
- Warehouse legal liability (non-standalone basis)
Project cargo
- Project cargo, including delay in start-up (DSU)
Value-added services
In-house claims team
renowned for quality handling of all aspects of loss recovery
Rapid turnaround
time from local underwriters
Regional appetite
with significant aggregate available
Significant local capacity
Claims scenarios
Cargo theft during transit
This is a claims scenario, where in spite of significant security measures, the truck transporting high-value electronics was hijacked by thieves while in transit. This resulted in all the cargo being stolen, but neither the trucking company nor the logistics service provider were at fault. In this instance, since the cargo owner had comprehensive insurance coverage for the cargo, they were fully reimbursed for the stolen goods.
Damage due to rough seas
Bad weather, rough seas, storms, and more are always a possibility when transporting goods by sea. In this claims scenario, a cargo vessel encountered severe weather conditions while at sea. Which in turn caused the containers to shift and goods to become dislodged, resulting in partial damage to the shipment. Fortunately, the shipper had cargo insurance that covered losses due to perils of the sea. So, when they filed their claim for the damaged goods, they were compensated for the financial losses incurred.
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