Yes, in most cases, cargo insurance is mandatory. By law, this insurance is mandatory in all cases involving a liability exposure (third-parties).
Save for exceptions, like Export insurance (ocean marine transportation) or Optional Liability Insurance for Disappearance of Cargo (road transportation), the placement of this insurance is mandatory.
Hence, it is essential to count on a specialized consulting services company, like CredRisk Marine, to advise you of the obligation to place insurance in each and every situation, as well as of the documentation required to comply with existing laws and regulations.
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