Chubb System Will Help Agents Profit From Open Ocean Cargo.Independent insurance agents and brokers can turn to Chubb's Ocean Cargo Express Cargo Express is a cargo airline based at El Dorado International Airport in Bogotá, Colombia. Fleet The Cargo Express fleet consists of the following aircraft (at September 2006):
Accessible at Chubb's Web site, www.chubb.com/@chubb, Ocean Cargo Express enables agents to rate, quote and obtain binders for open ocean cargo policies within 10 minutes for U.S.-based importers and exporters. An open ocean cargo policy provides insurance for air and containerized con·tain·er·ize v.tr. con·tain·er·ized, con·tain·er·iz·ing, con·tain·er·iz·es 1. To package (cargo) in large standardized containers for efficient shipping and handling. 2. shipments of merchandise throughout an annual period. Ocean Cargo Express also gives agents and their customers access to Chubb's Cargo Certificate Issuance System, which allows users to generate cargo certificates on demand, report shipments to the insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. and analyze shipping activities. "No longer will small and midsize insureds have to pay higher rates because of their size or rely on their freight forwarder An individual who, as a regular business, assembles and combines small shipments into one lot and takes the responsibility for the transportation of such property from the place of receipt to the place of destination. for insurance. They will get the same broad level of insurance protection and reasonable rates we offer to our other customers," said Terry Montgomery, vice president of Chubb & Son and manager of ocean marine products. Chubb's open ocean cargo policy features longer duration of risk, automatic contingent insurance and extra expense insurance. The policy may be extended to include domestic transit and domestic and foreign warehousing. To obtain insurance through Ocean Cargo Express, the agent's customer must have at least two years of international shipping experience and not currently be insured by Chubb. The insured's annual insured international shipping values should be $15 million or less. The maximum limit per conveyance The transfer of ownership or interest in real property from one person to another by a document, such as a deed, lease, or mortgage. conveyance n. is $1 million, and the maximum deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). is $2,500. |
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