Take vast quantities of goods, a range of transportation methods around the world and the many uncertainties that come with handling, loading and storage, throw in the vagaries of weather and add in unexpected events that can happen out of the blue and you have the perfect recipe for risk. Marine cargo faces exposures on many levels and experts say these are increasing, making the need for correct insurance even more important. For underwriters, this is a demanding sector, where change can happen fast. Your research is aimed at one of the most recent developments on the insurance agenda ‘mis-declared cargo and catastrophe, which is a major concern to the cargo insurer.What is expected of you? 1. Misdeclaration a growing nuisance (case analysis). 2. Types of misdeclaration. 3. Impact of misdeclaration on the Insurance industry. 4. Who will compensate the cargo owner in the case of fire? 5. Please identify which Institute cargo clause 01/01/2009 provide cover for fire damage. 6. Suggestions on changes in the usual cargo declaration process to reduce cargo misdeclaration, including and not limited to penalties.For This or a Similar Paper Click Here To Order Now
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