BASED ON INSURANCE ACTIVITIES, RISKS ARE DIVIDED INTO 3 CATEGORIES

#Type 1: Common risks covered include:

Risk of stranding: ship stranding is when the bottom of the ship hits the ground or hits obstacles and makes the ship unable to move.

Risk of sinking: Due to some reason that the ship sank into the sea or sunk due to the tsunami, storm, could not continue the journey, the goods on the ship were damaged.

Collision risk: Ship collision, collision with obstacles in the sea (reefs, constructions, other vessels) lead to damage, disrupted voyage.

Fire risk: A phenomenon which occurs fire due to technology or goods stored on board. Usually this risk is divided into 2 types: normal fire and internal fire. Normal fire is due to objective reasons such as natural disasters, forced destruction or negligence of uninsured people. Internal fire is due to the nature of the goods that can automatically ignite like coal, gas, etc. The insurance company only compensates for normal fire cases.

Risks caused by natural disasters: These are phenomena caused by nature such as rough seas, storms, whirlwinds, lightning, bad weather, etc. which humans cannot resist.

Missing risk: A situation in which a vessel cannot reach the port specified in the contract or after a specified period of time from the date the ship loses its signal. Different countries have different rules for this time period.

#Type 2: Uninsured risks

This category is usually the risk of the deliberate acts of the captain, sailors and related persons, natural losses.

#Type 3: Special risks

War, strike, riot, pirates are usually insured, but if the shippers request, they will receive insurance with the usual risks covered under the condition Pay special surcharges, not separate insurance for special risks.

At FYM Express, we are experienced professionals in the shipping industry, following the correct shipping procedures in ports across the globe. As your trusted partner in global shipping, we know the importance of your supply chain. Call us at (84) 028 66 787 222 to see how we can help you optimize your shipping experience.