Chubb Group alters ocean cargo policies

Chubb Group alters ocean cargo policies The Chubb Group of Insurance Cos., an organization based in Warren, N.J., unveiled a new ocean cargo policy and online portal on March 7.
   The new policy for ocean cargo is geared towards the layman and “includes several coverages previously available only by endorsement,” such as protecting the seller if there is a loss during transport and the buyer refuses to pay or their insurance does not respond, according to a press release.
   “Chubb's ocean cargo customers wanted a policy that was broader and easier to understand, so we responded with insurance that offers protection against many of the exposures they face,” said Terry D. Montgomery, vice president at Chubb & Son and ocean marine manager at Chubb Commercial Insurance.
   CargoPort is Chubb's new Internet site for agents, brokers and customers. The organization believes the site will make it easier to generate cargo insurance certificates and offer other user-friendly capabilities such as automated reporting of shipment and storage declarations.
   Montgomery added that the new policy and online portal were created to, “help businesses manage their cargo shipments around the clock and around the world.”
   The new policy and CargoPort are available in several western states and will be rolled out to the rest of the United States and Canada this summer.