Specialty insurance

Ocean marine insurance for specialty businesses

Ocean marine insurance is a specialized placement topic. An initial review should identify the property, voyage, parties, custody, contracts, valuation, and jurisdiction involved before CARMA can assess the account and current market interest.

Coverage and availability depend on the account, state, insurer and underwriting review. General information and nonbinding indications do not bind insurance; the applicable binder, policy, endorsements and law govern coverage.

Important insurance information

This guide is general information and does not determine coverage or legal requirements for your business. Policy terms, exclusions, conditions and available options vary. Contact the appropriate licensed insurance representative about your account, request confirmation of any coverage placed, and review the applicable insurance documents. An application, inquiry or nonbinding indication does not by itself bind or change insurance.

On this page 5 sections

Follow the property through the voyage

Describe the goods or equipment, ownership, valuation, packaging, origin, destination, mode of transit, frequency, storage points, and greatest concentration at one time.

Clarify parties, custody, and contracts

Identify shippers, consignees, carriers, freight forwarders, warehouse operators, and other parties. Explain when custody and financial responsibility transfer and which contract or shipping term controls.

Ocean marine questions for an initial review

  • What property moves, between which points, by which transport mode, and at what value?
  • Who owns, packs, stores, carries, and receives the property at each stage?
  • Which contracts, shipping terms, jurisdictions, and prior losses shape responsibility?

What CARMA wants the submission to explain

These details help the team understand the account and identify the next useful question. They do not establish eligibility or available terms.

  • Describe the property, ownership, valuation, packaging, origin, destination, transit mode, and concentration.
  • Identify shippers, carriers, freight forwarders, warehouses, consignees, and each transfer of custody.
  • Provide shipping terms, contracts, routes, security information, prior losses, and the coverage decision needed.

Records for an ocean marine discussion

  • Goods, equipment, ownership, values, origins, destinations, routes, and transit frequency
  • Carrier, freight forwarder, warehouse, packaging, storage, and security information
  • Shipping and customer contracts, prior loss history, current coverage, and requested effective date

Can CARMA consider this account?

CARMA confirms program fit, licensing, state availability, coverage options, and market interest for each account. This guide does not promise eligibility, terms, pricing, or placement.

Back to top

Account-specific review

Bring CARMA the account.

Retail agents, wholesale brokers, and business owners can start with the details they have.