Cargo Insurance Disclaimer

Cargo, marine and shippers-interest insurance offered through the IKEOCEAN ecosystem is provided exclusively by independent, licensed third-party underwriters and brokers. IKEOCEAN acts only as a referral and technology facilitator. IKEOCEAN does not underwrite, guarantee or otherwise insure any cargo.

Unless your sales contract or Incoterm (for example CIF or CIP) specifically requires it, cargo insurance is optional. The carrier’s legal liability (limited by Hague-Visby, Hamburg, Rotterdam, Montreal, Warsaw, CMR, COGSA, Carmack or the carrier’s tariff) is NOT cargo insurance and typically pays only a small fraction of the true commercial value of the goods.

Coverage is bound only when (i) the full premium has been paid, (ii) the certificate or cover note has been issued by the underwriter, and (iii) the cargo has not yet been tendered to the first carrier (except where an open or annual policy applies). Requests submitted after pickup or loading cannot be retroactively bound.

Coverage, deductibles, exclusions, valuation basis (CIF + 10% is standard) and territorial limits are governed by the policy wording issued by the underwriter, not by IKEOCEAN. Common exclusions include inherent vice, ordinary wear and tear, insufficient packing, delay, war and strikes (unless endorsed), nuclear, cyber, illegal goods and contraband.

IKEOCEAN makes no representation that any claim will be accepted, paid in full, or paid within a particular timeframe. All claim adjudication, settlement and subrogation decisions rest exclusively with the underwriter.

IKEOCEAN may receive a commission, override or referral fee from the third-party insurer. Such compensation does not increase the premium you pay relative to the underwriter’s filed or published rates.

Insurance must be requested through the ShipHub quote flow or by emailing info@ikeocean.combefore the cargo is tendered. Always declare the correct commercial value and HS information; under-declaration may void coverage.

To open a claim, notify info@ikeocean.com as soon as loss or damage is discovered and preserve all packaging, seals and photographs. The underwriter will issue claim instructions and appoint a surveyor if required.