Cargo All Risks Liability Insurance is typically affected by whom?

Cargo All Risks Liability Insurance is commonly affected by the consignor or consignee of goods because these parties are directly involved in the shipping and handling of the cargo. The consignor refers to the person or entity that sends the goods, while the consignee is the recipient of those goods. Since these stakeholders have a vested interest in ensuring that the cargo is protected against loss or damage during transit, they are the ones who typically seek out this insurance.

This type of insurance provides extensive coverage, protecting against a wide range of risks associated with transporting cargo, including theft, damage, and loss. By choosing to obtain this type of insurance, the consignor or consignee aims to mitigate financial losses that may arise from unforeseen incidents during the shipping process. Their role is central in the decision-making process of acquiring coverage to safeguard their interests throughout the transport cycle.

While the cargo transport company and the insurance provider may play important roles in the logistics and underwriting processes respectively, it is ultimately the consignor or consignee who directly influences whether and what type of cargo insurance is needed.