To Insure or Not to Insure Fresh Produce Cargo.

Edition no. 23

Life is too short, and your export business is too important to waste your profits on cargo damages. We give you the straight talk and confidence to recover cargo claims from liable carriers.

In this newsletter, we'll talk about the latest industry news, lessons, tactics, good practices that?our clients - exporters, traders as yourself?use to prevent and recover cargo losses, helping you achieve similar results.

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In a 2022 report by the World Trade Organization (WTO), about 10-15% of shipments being damaged or lost during transport.

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I've got insurance, so I'm covered!

But here's the kicker: when it comes to cargo claims, insurance might not always have your back. Standard marine policies often offer limited coverage, various fruit?exclusions, no reefer malfunction,?no damage due to delay coverage?etc. Not to mention obsolete cargo claim settlement process.?Marine insurance today costs from 50 to 500 USD per container.?

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Exporters from various countries?always wonder the same question: to insure or not to insure their fresh produce?

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Answer these and know what Recoupex recommends:?

• Have you had previous year?cargo claims to the extent that?the insurer?priced you for?2024 or 2025?
• Does?current insurance policy cover your main risks? I mean if you ship bananas, you do not really care about containers lost overboard or loss coverage from earthquakes.?
• Are you happy with the existing?settlement terms?
• Is your cargo worth more than 20,000 USD?per container??

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In case?any of the above?is NO, then it is a good indication that you most probably do not need that coverage.?

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Have you looked at the possibility to pursue claims yourself? Directly from the liable carriers??Most of Recoupex clients fresh produce exporters rely much more on loss prevention and recovery action than?on generic insurance policies.?

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NOTA BENE, for shipments, that absolutely need to be insured, make sure you buy?an insurance policy that actually covers the?transit risks your specific cargo encounter on a regular basis?and that claim and settlement procedure is clear for you.?

Get the compensation you deserve for claims with delivery dates not older than 22nd February 2023. Submit rejected or unrecovered claim to Recoupex today. Our team of experts ensure a hassle-free process. Act now before it's too late!

Recoupex is one of the fastest growing cargo claims recovery hubs helping customers globally to obtain the compensation they are entitled to when cargo is lost or damaged in transit (ocean, multimodal, air shipments: dry and refrigerated cargo). If you think Maersk, Sealand, Hapag-Lloyd, Mediterranean Shipping Company – MSC, CMA CGM, and other carriers might owe you compensation because of cargo loss or damages, you’ve come to the right place.

Recoupex has recovered?thousands?of $ for shippers around the globe and they could help you win back the compensation you deserve for lost or damaged cargo in transit. If we don't win - you don't pay.