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When goods are moved during the normal course of business, there is always a need for Marine Cargo Insurance. It covers the risks involved in transporting goods by Ocean Vessel, Aircraft, Barge, Rail, Truck or any other mode of transport.
Marine Cargo Insurance provides protection for goods being transported, indemnifying the Insured for physical loss or damage that results from an insured peril. The most important aspect of this type of insurance is that as an assignable document, the title can be transferred from one party to another. With Cargo insurance, the person who arranges and buys the policy is not always the person entitled to claim in the event of a covered loss.
Any person who has an insurable interest in a shipment, and who would suffer a financial loss should the cargo be damaged or destroyed or would benefit from the safe arrival of the cargo, has a need for Marine Cargo Insurance.
Marine and aviation insurance are two types of insurance policies designed to protect businesses and individuals in the UAE against financial losses resulting from risks associated with marine and aviation activities.
Marine insurance provides coverage for loss or damage to vessels, cargo, and other property during marine transportation. It can also provide coverage for liabilities arising from marine accidents, such as collisions or environmental damage. Marine insurance can be tailored to suit the needs of different businesses and individuals, including shipping companies, freight forwarders, and yacht owners.
Aviation insurance provides coverage for risks associated with aviation activities, including physical damage to aircraft, liability arising from accidents, and loss or damage to cargo during air transportation. It can also provide coverage for ground handling activities, such as maintenance and refueling. Aviation insurance is typically purchased by airlines, aircraft owners, and other aviation-related businesses.
Both marine and aviation insurance policies in the UAE are regulated by the Insurance Authority, which ensures that insurance providers adhere to strict standards of financial stability and customer protection.
When selecting an insurance provider for marine or aviation insurance in the UAE, it is essential to choose a company with a solid reputation, experience in the industry, and a track record of providing comprehensive coverage at competitive premiums. Al Buhaira Insurance is a reputable insurance provider that offers a range of marine and aviation insurance products tailored to the needs of different businesses and individuals in the UAE. With Al Buhaira Insurance, customers can have peace of mind knowing that they are adequately protected against the risks associated with marine and aviation activities.
Here are some frequently asked questions about marine and aviation insurance in the UAE: