Customized Marine Insurance Solutions to Safeguard Your Cargo
During international ocean freight, cargo faces multiple risks including natural disasters, accidents, and theft. Qingdao Mighty International Freight Forwarding partners with major well-known insurance companies to provide clients with comprehensive marine insurance solutions covering FPA, WA/WPA, and All Risks. From risk assessment to policy issuance, from transport monitoring to claims support, our full-process professional service minimizes your cargo damage risk.
Our Service Advantages
From customized insurance plans to claims support, our end-to-end professional service ensures your cargo receives maximum protection throughout transit.
Customized Insurance Plans
Tailored combinations of FPA, WA/WPA, and All Risks based on cargo type, shipping route, and value for the optimal coverage solution.
Professional Risk Assessment
Our expert team evaluates risk factors across the entire transport journey, including weather, routes, and port conditions, to develop targeted preventive measures.
Fast Policy Issuance
Full assistance with the insurance process, streamlined procedures, and rapid policy issuance to ensure your cargo is fully covered before loading.
Full Claims Support
In the event of cargo damage, we provide immediate assistance with evidence collection, incident reporting, and claims processing, following through until settlement is completed.
Insurance Types
Marine cargo insurance is a vital tool for safeguarding goods in international trade. Based on PICC (People's Insurance Company of China) terms and international standard clauses, we offer the following major coverage types:
- FPA (Free from Particular Average): Covers total loss caused by natural disasters and total or partial loss resulting from accidents to the transport vessel. Lower premiums, suitable for low-value or damage-resistant cargo.
- WA/WPA (With Average / With Particular Average): In addition to FPA coverage, also covers partial loss caused by natural disasters. Suitable for cargo with higher sensitivity to seawater, rain, and similar risks.
- All Risks: Beyond WA/WPA coverage, further covers total or partial loss caused by external factors. The broadest coverage, ideal for high-value or fragile cargo.
- Additional Coverage: Includes war risk, strikes risk, freshwater rain damage, shortage, contamination, leakage, breakage, taint of odor, and sweat and heating. These can be flexibly combined based on actual needs.
Service Process
We provide end-to-end service from policy issuance to claims processing for every shipment, ensuring seamless marine insurance coverage:
- Needs Assessment: Understanding cargo category, value, packaging, destination port, and other details.
- Risk Evaluation: Analyzing route characteristics, seasonal factors, and cargo properties to identify risk points.
- Plan Customization: Recommending the most suitable coverage combination with comparative quotes from multiple insurers.
- Policy Issuance: Assisting with the insurance application process and rapid issuance of policy documents.
- Transport Monitoring: Tracking cargo status during transit with timely alerts for any anomalies.
- Claims Support: In case of an incident, assisting with on-site evidence collection, reporting, and preparation of claims materials with full follow-through.
Partner Insurers
We have established long-term partnerships with leading domestic insurance companies including PICC (People's Insurance Company of China), China Pacific Insurance, Ping An Insurance, and China Life Property & Casualty Insurance. We also maintain close ties with internationally renowned insurance institutions, ensuring our clients receive the most competitive rates and highest quality claims service.
Marine Cargo Insurance: FAQ
Choosing cover, calculating the premium, and claiming for cargo damage.
What is the difference between FPA, WPA and All Risks?
FPA (Free from Particular Average) covers total loss from natural disasters and total or partial loss from accidents to the carrying vessel. WPA (With Particular Average) adds partial loss from natural disasters. All Risks adds loss from general external causes — the broadest cover, suited to high-value or fragile cargo.
How is the marine insurance premium calculated?
Premium = insured amount × rate. The insured amount is usually the CIF value × 110%, and rates typically range from 0.05% to 0.3% depending on the cover, cargo type, packing and route. For example, a CIF value of USD 50,000 at 0.08% gives a premium of about USD 44.
Who buys cargo insurance under FOB and CIF?
Under CIF and CIP the seller insures: Incoterms 2020 requires at least ICC (C) for CIF and ICC (A) for CIP, for 110% of the contract value. ICC (C) covers only major casualties, so agree an upgrade to ICC (A) or All Risks in the contract. Under FOB, CFR and FCA the buyer arranges its own insurance. See our Incoterms 2020 guide.
Do I need war risk cover for cargo via the Red Sea or Middle East?
It is advisable. War and strikes are additional covers that All Risks does not include, so cargo passing high-risk waters such as the Red Sea or the Strait of Hormuz should have them added when the policy is placed. Other additional covers include fresh water and rain damage, shortage, leakage, breakage and sweat and heating, chosen to suit the cargo.
How do I claim for cargo damage?
Notify the insurer and us as soon as damage is found, photograph it, keep the original packing, serve written Notice of Loss on the carrier within 3–15 days to preserve subrogation rights, and request a survey report. Then submit the original policy, bill of lading, invoice, packing list, survey report and a claim statement. See our Ocean Cargo Claims Guide for the full 72-hour checklist and carrier liability rules.
Which insurers do you work with?
We have long-term partnerships with PICC, China Pacific Insurance, Ping An Insurance and China Life Property & Casualty, and ties with international insurers, so we can compare quotes from several companies and issue policies on PICC or international clauses.
Need a Marine Insurance Quote?
Our professional team will tailor the optimal marine insurance solution based on your cargo characteristics and shipping requirements.
Contact Us for a Quote