Resolution Insurance announces entry to the marine insurance space. The company which started with health insurance as Resolution Health to general insurance believes there is a sizeable market for marine insurance, especially for online shoppers. Their new product is Resolution Marine Cargo, and is tailor-made for freight, logistics and shipping, clearing and forwarding companies. Resolution marine cargo covers accidental loss or damage of goods in transit either by air, sea or land.
The cover is classified into three types namely All Risks, Basic and Restricted Covers which offer insurance of cargo for different types of cargo that can be insured including grain in bags, sugar, fabric, crude oil, textile materials as well as leather goods. The new product covers general average losses, war, strikes and civil commotion risks.