Why is Cargo Insurance important in freight forwarding?
Cargo insurance or Marine Cargo insurance provides financial security to the goods against losses, damage, pilferage, etc. Hence, the cargo insurance forms an integral part of movement of goods especially when exported and imported in which case the risk is more as the cargo has to undergo various modes of transportation and geographies. The more the cargo remains in transit, the risk factor increases as it is subjugated to various conditions before reaching the end customer. It can be stated that there is still a dearth of proper awareness of cargo insurance among the exporters and importers and it is…