OCEAN MARINE
Marine Cargo appetite and target classes
Class of risk
Marine Cargo is a critical insurance product that protects supply chains and ensures smooth movement of raw materials and finished goods from their creation to point of sale.
AXIS has a robust risk appetite for primary and excess marine cargo risks. With a deep understanding of dynamic ocean marine cargo risks and prowess in handling complex cargos, we are dedicated to tackling both the everyday and unique challenges faced by stakeholders of the supply chain.
Target classes
- Food, agriculture, beverage
- Chemicals
- Clothing and textiles
- Construction materials
- Distributors
- Equipment and machinery
- Importers, exporters
- Manufacturers
- Medical supplies
- Metals (finished, raw, and scrap)
- Military goods
- Original equipment manufacturers and finished products
- Paper products
- Petroleum products, bulk
- Plastics, rubber
AXIS has a limited appetite for open lot auto, retail electronics, pharmaceuticals, and seafood.
Coverage and capacity
AXIS underwrites marine cargo risks on both a primary and a follow-form basis with limits of up to $25 million available:
- Primary Cargo and Stock Throughput
- Excess Cargo and Storage (including Standalone Excess Storage)
- Project Cargo and Trip Risk
AXIS offers broad coverage, including enhancements, such as Control of Damaged Goods; Unnamed Locations Coverage; Earthquake, Windstorm, Flood cover for storage risk; Refrigeration Breakdown Coverage; Forgery or Alteration Coverage; Accumulation beyond control of the Insured; Automatic Acquisition Coverage; and a willingness to design new, industry-specific coverages on upon request.
Capabilities
- AXIS can write global admitted business with our underwriting partners in territories around the world
- Available global risk engineering resources to mitigate losses and minimize potential supply chain disruption
- Dedicated AXIS Ocean Marine Operations team to enhance customer service and satisfaction
- Expert in-house claims handling
- Manuscript and other policy wordings options, including tailored solutions for niche industry verticals
- Able to quickly issue evidence of insurance
For our financial strength, individual insurance company ratings, and regulatory disclosures by jurisdiction, visit: https://www.axiscapital.com/product-information.
