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General Average cargo insurance for your sea freight shipments

Safeguard your cargo

During the voyage, be protected against unforeseen events such as General Average.

The definition of General Average

Situation that may result in General Average

Maritime law requires ship and cargo owners to proportionately share the costs associated with the rescue of the cargo and ship after a major accident.

The captain or owner of the ship declares General Average when cargo, equipment or funds must be voluntarily sacrificed to save the ship from peril in the event of an emergency.

Ship running aground
Hull and engine damage caused by efforts to refloat a vessel
Fire onboard the ship
Mechanical engine failure
Shifting of containers due to heavy storm
Discharge and reloading of cargo at a port of refuge

How to be prepared

Cargo insurance protects against the loss of or damage to cargo during sea transport, including General Average.

The cargo insurance company takes over and represents you on behalf of the cargo owner towards the average commissioner.

With cargo insurance	Without cargo insurance
Institute Cargo Clauses (ICC) fully cover all General Average expenses	All expenses on the cargo owner
There is no need to worry about bureaucracy or documentation	Your cargo will not be released unless you provide a cash deposit or a bank guarantee
Continue your business with total peace of mind	You are obligated to provide all documentation to the General Average adjuster

Aerial view of vessel stuck in Suez Canal — Aerial view of vessel stuck in Suez

Suez canal incident

After the canal reopened and world trade was restored, those with cargo interests on board the EVER GIVEN received a “General Average Declaration” letter from the shipping company.

An Average Adjuster was appointed to calculate the cost of the General Average. Related security had to be paid before containers were released from the ship. Shippers without appropriate insurance were required to pay the required cash bond.

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General Average flyer

Container being transported in a harbour with two people surveying — Container being transported in a ha

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