What does Export Contingency Insurance mean? Read on to discover the definition & meaning of the term Export Contingency Insurance - to help you better understand the language used in insurance policies.
Export Contingency Insurance
Secondary marine insurance cover used when an exporter ships goods under terms (such as free on board or FOB) where the insurance for the cargo is importer's responsibility. This policy comes into effect when the importer either did not arrange insurance or it is insufficient to cover the possible losses.
We hope the you have a better understanding of the meaning of Export Contingency Insurance.