Sinking profits.
Brokers seeking to make greater in-roads into the marine cargo market would be wise to look at some of the new loss-of-profits policies coming onto the market. Adrian Leonard reports.
Several UK cargo insurers have introduced a new line of cover forimporters. Known variously as "loss of profits" and "consequential loss",
the cover, traditionally available only for large-scale construction
projects, pays insureds' financial losses due to delays in receiving
shipments of goods.
This month, Royal & SunAlliance is introducing a new consequential loss
wording. CNA Maritime offers importers indemnity against profits lost as a
consequence of shipping delays, and Independent Insurance
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