Insurance

Tari Trading Company, as a supplier of nuts and dried fruits, is responsible for insuring the export cargo and shipments of its customers through export insurance. Tari Trading Company always strives to provide the best services to its customers and gain their satisfaction.

Therefore, stay with Tari Trading Company until the end of this text so that we can tell you about the types of export insurance and the best international insurance companies.

What are the types of export insurance?

Export insurance is designed to mitigate various risks that may arise in international trade. These insurances come in various types, each offering specific coverage. In the following, we will explain the main types of export insurance for you.

1.Export Transport Insurance

Export transport insurance protects goods against potential hazards and damages during transportation (by sea, air, or land). These insurance policies are usually known by three standard clauses:
Clause A (All Risk): This is the most comprehensive type of coverage that includes almost all risks, unless specifically excluded in the insurance policy. This clause protects goods against physical hazards, theft, fire, overturning, and other damages.
Clause B: This clause has more limited coverage than Clause A and covers limited risks such as fire, explosion, sinking, and specific physical damages.
Clause C: This clause offers the lowest level of coverage and is mostly used for goods with low risk and resistant to transportation hazards. This clause only covers events such as fire and total sinking.

2.Export Credit Insurance

Export credit insurance is one of the most widely used export insurances, which is offered to protect exporters against the risk of non-payment by foreign buyers. This type of insurance includes two main types of risks:
Commercial risks: Non-payment due to bankruptcy, insolvency, or delayed payment by the buyer.
Political risks: Including cases such as sanctions, war, political unrest, confiscation of goods, and exchange controls.

3.Political Risk Insurance

Political risk insurance is for exporters who export to markets with high political risks (such as sanctions, political unrest, confiscation, and war). This insurance can cover the following:

Confiscation risk: In case of confiscation of goods by the destination government.
Sanctions risks: In case of sudden sanctions that prevent the export of goods.
Political unrest risks: In case of war, rebellion, or political changes that disrupt trade.

4.Carrier’s Liability Insurance

Another insurance offered by Tari Trading Company is carrier’s liability insurance, which can ensure that the importer can claim damages in case of damage or loss of goods. This insurance makes the carrier responsible for the damages and gives the importer more commitment.

5.Currency Fluctuation Insurance

Currency fluctuation insurance is offered to protect exporters from the depreciation of the destination currency (such as the dollar or euro). This insurance can compensate for losses caused by currency fluctuations that may reduce export profits. For example, if the value of the currency decreases, currency fluctuation insurance will pay the difference.

6.Goods Return Insurance Goods return

insurance is specifically for cases where goods are returned to the country of origin due to defects or other problems. This insurance covers the costs of returning the goods and helps reduce the exporter’s losses.

7.Outsourcing Insurance Outsourcing

insurance is for exporters who have outsourced production or part of the export process to another country. This insurance covers risks such as delays, defects in production, or logistical problems arising from outsourcing operations.”