Why Is The Insurance Of The Goodes So Important?
Unsecured loads within the supply chain are exposed to risk. Without proper protection, the load is exposed to many potential hazards such as theft, fire, or weather hazards that are beyond your control.
During shipping, not only is the load exposed to the risk of unexpected events but, if there is a situation where the ship is at risk, the cost of rescue will be proportionally divided between the owner of the vessel and the owner/caretaker of the ship. This status is known as the General Average: ‘All loss which arises in consequence of extraordinary sacrifices made or expenses incurred for the preservation of the ship and cargo come within general average and must be borne proportionally by all who are interested’ (The Digest of Justinian Code 533 AD).
Therefore, even if your load is safe, you may be forced to pay for the loss of others and the expenses incurred during the rescue of the vessel at risk. Many departures do not understand that they are partially legally responsible for the safe voyage of the ship.