Under this new framework, Cargo Cover Solutions is
comprised of two products: MSC
Extended Protection (EPR) and MSC Marine Cargo Insurance (MCI).
“MSC EPR is a well-recognised protection
option in leading markets and a global solution for anyone engaged in
international transportation.
Where EPR is not available or does not
apply, MCI is offered as an alternative; most notably in cases where a letter
of credit is involved, or when the cargo is fresh goods or chilled food. With
EPR, cargo is also protected against damages directly linked to war risk events
at sea, at no extra cost,” reads the
release.
With MSC EPR, customers benefit from a wide range of
coverage options at competitive rates, along with fast-track claim resolution
in case of any incidents.
MSC remains the sole interlocutor of the customer from
booking to claim resolution – Customers receive prompt quotations and coverage
confirmation at booking stage, for potential covered incidents during transport
under MSC’s contract of carriage (being only BL or Intermodal BL).
Claims
are handled directly by MSC, ensuring local support, simplified procedures, and
resolution within 30 working days on average,
very customer-friendly indeed.
Rates are based
on cargo value and are applied per shipment, with transparent pricing
manifested on the freight invoice. Customers can pick and choose the value they
want to protect, with the opportunity to only partially protect their cargo
value.
It reads, “With the introduction of Cargo
Cover Solutions, and the enhanced MSC Extended Protection, MSC is empowering
businesses to seize opportunities, mitigate risks, and thrive in today’s
dynamic business environment. MSC’s
efforts are to help them to sustain continued growth and success, despite an
increasingly complex trade environment.”