MSC expands, upgrades cargo protection offering

MSC has expanded and upgraded its previous cargo protection offering, known as “Peace of Mind” insurance, which is now known as “Cargo Cover Solutions”.

Under this new framework, Cargo Cover Solutions is comprised of two products: MSC Extended Protection (EPR) and MSC Marine Cargo Insurance (MCI).

“MSC EPR is a well-recognised protection option in leading markets and a global solution for anyone engaged in international transportation. Where EPR is not available or does not apply, MCI is offered as an alternative; most notably in cases where a letter of credit is involved, or when the cargo is fresh goods or chilled food. With EPR, cargo is also protected against damages directly linked to war risk events at sea, at no extra cost,” reads the release.

With MSC EPR, customers benefit from a wide range of coverage options at competitive rates, along with fast-track claim resolution in case of any incidents.

MSC remains the sole interlocutor of the customer from booking to claim resolution - Customers receive prompt quotations and coverage confirmation at booking stage, for potential covered incidents during transport under MSC's contract of carriage (being only BL or Intermodal BL).

Claims are handled directly by MSC, ensuring local support, simplified procedures, and resolution within 30 working days on average.

Rates are based on cargo value and are applied per shipment, with transparent pricing manifested on the freight invoice. Customers can pick and choose the value they want to protect, with the opportunity to only partially protect their cargo value.

It reads, “With the introduction of Cargo Cover Solutions, and the enhanced MSC Extended Protection, MSC is empowering businesses to seize opportunities, mitigate risks, and thrive in today's dynamic business environment. MSC’s efforts are to help them to sustain continued growth and success, despite an increasingly complex trade environment.”