Information essential for proper assessment of the risk in marine cargo insurance.

Cargo:

* **Type of cargo:** Hazardous cargo, such as chemicals and flammable materials, poses a greater risk than non-hazardous cargo. Perishable cargo, such as food and medical supplies, is also at higher risk of damage or loss. Fragile cargo, such as electronics and glassware, must be specially packaged to protect it from breakage.
* **Value of cargo:** The value of the cargo is a major factor in determining the premium. Insurers will need to know the value of the cargo in order to calculate the appropriate coverage limits.
* **Quantity of cargo:** The quantity of cargo being shipped is also important to consider. Insurers may offer discounts for larger shipments.
* **Packaging of cargo:** Proper packaging is essential to protect the cargo from damage during transportation and storage. Insurers may require specific packaging standards for certain types of cargo.

Voyage:

* **Mode of transport:** The mode of transport affects the risk of damage or loss. Sea transport is generally considered to be the riskiest mode of transport, followed by air transport and land transport.
* **Route of voyage:** The route of the voyage is also important to consider. Voyages through certain regions, such as pirate-infested waters, pose a greater risk than voyages through other regions.
* **Duration of voyage:** The longer the voyage, the greater the risk of damage or loss.
* **Season of voyage:** The season of the voyage can also affect the risk. For example, voyages during the winter months are at greater risk of storm damage.

Insured:

* **Financial stability of insured:** Insurers will want to do a credit check on the insured to ensure that they are financially stable and able to pay the premiums.
* **Claims history of insured:** Insurers will also review the insured's claims history to see how many claims they have filed in the past. This information can help insurers to assess the insured's risk profile.
* **Loss control measures in place:** Insurers may offer discounts to insureds who have implemented loss control measures, such as security measures and safety procedures.

Other factors:

* **Political and economic stability of destination country:** The political and economic stability of the destination country can also affect the risk of damage or loss. Shipments to unstable countries are at greater risk.
* **Security of the ports and warehouses where the cargo will be stored:** The security of the ports and warehouses where the cargo will be stored is also important to consider. Shipments stored in insecure facilities are at greater risk of theft and damage.
* **War and terrorism risks:** War and terrorism risks can also affect the risk of damage or loss. Shipments to countries that are at risk of war or terrorism are at greater risk.

In addition to the above information, marine cargo insurers may also consider the following factors when assessing risk:

• Accumulation risk: The risk of having too much cargo accumulated in one place, such as on a single vessel or in a single warehouse.
• Natural catastrophe risk: The risk of damage or loss of cargo due to natural catastrophes, such as storms, floods, and earthquakes.
• Cargo theft risk: The risk of cargo being stolen during transportation or storage.
• Port congestion risk: The risk of delays and damage to cargo due to port congestion.
• Carrier risk: The risk of financial loss due to the insolvency or bankruptcy of a carrier.

Marine cargo insurers will use all of this information to assess the overall risk of the shipment and to develop appropriate risk management strategies.