The Econorisk Marine Product covers all modes of transport while the goods are in transit, including sea, air, road and rail, both locally and internationally.
Moving cargo by sea, road, air, or rail carries very real risk. Marine insurance exists to protect your financial interests and ensure your business can recover swiftly from any loss or damage sustained in transit. Our specialist marine team has experience in the marine placement and the servicing of corporate/multi-national marine businesses.
Cover for goods in transit, whether by sea, air, or land. Cover can be tailored to suit your specific cargo type, risk exposure, and budget. This includes protection for imports, exports, and goods in transit within South Africa.
Protects your business against third-party claims arising from maritime operations, including damage to property, injury, or loss caused to others.
Designed for shipyards, contractors, and marine service providers, this cover protects against liabilities while vessels are under your care, custody, or control for repair, maintenance, or modification.
Cover to safeguard transport operators against financial loss resulting from damage to or loss of cargo while in transit, ensuring protection against legal liability exposures.
A specialised solution that protects businesses against financial losses resulting from delays in project completion, particularly within construction and infrastructure developments
A comprehensive, end-to-end solution that covers goods throughout the entire supply chain - from production and storage to transit and final delivery, including retail locations.
Cover for physical loss or damage to commercial vessels and associated machinery due to maritime risks such as collisions, grounding, and accidents.
Tailored for leisure vessels such as yachts, motorboats, and jet skis, this cover includes protection against physical damage as well as liability for third parties, passengers, and water-skiers.
Designed for boat builders and repairers, this cover protects against risks associated with construction and repair activities, including damage to vessels under construction and third-party property.
Marine insurance is designed for any business involved in the movement of goods - whether by sea, road, air, or rail. This includes importers and exporters, freight forwarders and logistics operators, manufacturers and retailers who move stock between facilities, and project managers overseeing the transport of high-value or specialised cargo. If your business depends on goods arriving safely and on time, marine insurance is an essential safeguard against the very real financial consequences of loss or damage in transit.
Our marine insurance solutions are suitable for businesses of all sizes, from small importers shipping containers of stock to large multinationals managing complex global supply chains. We have particular expertise in corporate and multinational marine placements, and our specialist team is well placed to provide technical advice on cover adequacy, risk management, and claims handling. Whether you are moving standard commercial cargo, project equipment, perishable goods, or high-value items, we will make sure your marine cover is structured to protect your financial interests at every stage of the journey.
Get in touch with our team and tell us about your cargo, your supply chain, and the transit risks your business faces whether moving goods by sea, road, air, or rail. The more we understand your requirements, the better we can tailor marine insurance cover that fits your specific needs.
Our specialist brokers go to market on your behalf, comparing marine insurance options across a panel of leading insurers to find the most appropriate cover at the most competitive premium for your specific cargo and transit risk profile.
Once your marine insurance cover is in place, our relationship doesn't end there. We're here to help with policy queries, renewals, and to guide you through the claims process if and when you need us most.
This covers all the different transits of the insured, whether owner-driven or transported by carriers for a twelve-month insurance period.
This covers a single defined trip from one place to another, as and when required by the insured. The insured can be selective in choosing which transit they would like to insure, and which transits they elect to self-insure.
Marine insurance is a specialist type of cover that protects businesses against financial loss arising from the movement of goods and cargo. Despite its name, marine insurance covers goods transported by sea, road, air, and rail - not just by ship. It typically covers physical loss or damage to cargo in transit, marine liability, freight liability, and in some cases the vessels or vehicles used to transport the goods. In South Africa, marine insurance is essential for any business that imports, exports, or moves stock between locations.
Marine insurance in South Africa covers a broad range of risks including loss or damage to cargo while in transit by any mode of transport, theft and hijacking of goods in transit, damage caused by accidents, fire, or natural events during transportation, marine liability for third-party claims arising from the movement of goods, and freight liability for logistics operators. Policies can also be extended to cover goods held in storage between legs of a journey, exhibition goods, and project cargo movements. The exact scope of cover depends on the specific marine insurance policy you arrange.
Marine cargo insurance covers the goods and commodities being transported - protecting the financial interests of the cargo owner against loss or damage in transit. Marine hull insurance, on the other hand, covers the physical vessel or boat itself against damage, loss, or liability. For most South African importers, exporters, and logistics businesses, marine cargo insurance is the primary product needed. Marine hull insurance is more relevant for boat owners and vessel operators. Both are available through specialist marine insurance brokers in South Africa.
Despite the name, inland marine insurance has nothing to do with the sea - it is a type of cover for goods and property that is transported or stored on land. It covers cargo being moved by road or rail, as well as property that is regularly transported or temporarily stored away from a fixed location. In the South African context, inland marine insurance is particularly relevant for businesses that move high-value stock or equipment between warehouses, branches, or customer sites. It is an important complement to standard commercial property insurance, which typically only covers goods at a fixed location.
Marine insurance premiums are typically calculated based on the value of the cargo being insured, also known as the sum insured, which should reflect the cost of the goods plus freight and insurance charges. Other factors that affect the premium include the type of goods being transported, the mode of transport, the origin and destination of the shipment, the packaging and security measures in place, the frequency of shipments, and the claims history of the insured. A specialist marine insurance broker can help you establish the correct sum insured and structure your policy to make sure all your transit exposures are adequately covered.
The primary benefit of marine insurance is financial protection against the very real risk of loss or damage to goods in transit. For South African businesses that rely on imports or exports, a single significant cargo loss without insurance could have a devastating impact on cash flow and business continuity. Marine insurance also provides peace of mind, enables businesses to trade with confidence, may be required by trading partners or financiers, and ensures that claims are settled quickly so business operations can continue with minimal disruption.
Working with a specialist marine insurance broker is strongly recommended for any business with regular cargo movements. Marine insurance is a specialist discipline with complex policy wordings, and the difference between a well-structured policy and a poorly structured one can be enormous when a claim arises. A specialist broker will assess your specific transit exposures, advise on the appropriate level of cover, ensure your sum insured is correct, and go to market across a panel of marine insurance companies in South Africa to find the most competitive and appropriate policy for your needs.
Marine insurance is available throughout South Africa, including Cape Town, Johannesburg, Durban, and all other major business centres. As South Africa's primary port city and a major hub for imports and exports, Cape Town has a particularly active marine insurance market. However, you do not need to be based in a port city to arrange marine insurance - a specialist broker can arrange cover for your cargo movements regardless of where your business is located in South Africa.
When reviewing a marine insurance policy, key things to look out for include the scope of cover - specifically whether it is an all-risks policy or a more limited named-perils policy; the any one conveyance limit, which caps the maximum payout per shipment; exclusions for certain types of goods or packaging; the territorial scope of the policy; claims settlement procedures; and whether the policy covers door-to-door transit or only specific legs of the journey. A specialist marine insurance broker will help you understand the policy wording and make sure your cover is structured to match the reality of your supply chain.
For tailored cover to suit your marine requirements, contact Econorisk on marine@econorisk.co.za
