Insuring containers

Almost every type of cargo can be shipped in containers nowadays and marine insurance can be taken out for almost every type of cargo. The insurance of containers is a part of marine insurance and is often handled as an independent line of business.

In addition to the actual loss of or damage to the insured container, third-party claims for loss or damage in connection with the use of containers are also covered. Special risks like loss of use or costs for returning a container are also insured (roughly half of all containers worldwide are provided by leasing companies).

Although standard conditions do exist, hull and liability insurance for containers is frequently subject to individual endorsements and exclusions.

Conclusion

The loss of containers on ocean-going ships can be reduced by the following measures: practicable methods for determining the weight of containers accurately, stowing cargo securely and safely in containers, lashing deck containers securely on board the ship, making more use of weather information and route advisory services, and adjusting the course and speed of the ship to its loading condition and the weather situation.

A wave radar that notifies the ship's command of high waves at a long distance and even at night and a system which in combination with a wave radar provides timely warning of the danger of parametric rolling could likewise help to reduce losses.

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