Barrington, IL (PRWEB) December 28, 2009
Marine Insurance (also known as Cargo Insurance) covers the loss, damage, or theft of commodities while in transit. Since 1991, TRG Marine has offered cargo insurance on an annual policy basis. Companies engaged in international trade come to Surety Agents such as TRG Marine to compare and evaluate their insurance needs. TRG Marine believes that with the enhancements of this online application, companies will seamlessly apply for a quote and be able to quickly compare rates with that of their current provider. http://www.trgmarine.com
With any type of insurance quote, a questionnaire is completed in order for the Surety to calculate the risk of underwriting the policy. The quote is then based on this assessment. With a typical annual marine insurance policy, the non-refundable, pre-paid minimum deposit is based on information provided by the importer on the Marine Insurance application form. The underwriter will calculate a rate per hundred dollar as well as a pre-paid, minimum deposit. It is imperative that information on the application is accurate and complete, including but not limited to the countries of origin/destination and the items to be insured. The minimum earned deposit premium is based on a percentage of the total anticipated annual premium. Though only the underwriter can quote a company’s actual prepaid minimum deposit, some markets set a minimum for what they will offer.
Questions typically assessed for a marine insurance quotation include:
The number of years the company has been involved in international trade.
The commodities for which the insurance would cover.
The countries of origin for international marine insurance policies.
The methods of transportation that will be used.
The value of the goods being transported.
TRG Marine’s online insurance application (http://www.trgmarine.com) incorporates these questions and more in a short 10-15 minute questionnaire. Designed for simplicity, once the application is complete, the form is pre-populated for the applicant to review, print, and sign. After emailing or faxing in the application, TRG Marine transfers the information to its markets to obtain the most competitive quote available.
“Given the economy and the soft Marine Insurance market, now is a great time for the insured to take a few minutes to compare rates as well as assess if the current coverage is meeting their needs,” stated Valerie Sarich, TRG Marine Manager. “Our new online application makes it even easier for this to be done
About TRG Marine:
TRG specializes in providing US Customs bonds direct to importers and offers a web-based ABI application for self-filing of Customs entry documents and Importer Security Filing (10+2). TRG Marine is a department of TRG offering annual Marine Insurance policies. TRG Marine policies are written by their sister agency, Corporation for International Business – dba Boomerang Freight Solutions Insurance Agency in the state of CA, dba Corporation for International Business, Inc. in the states of CT/MA/MO/NM, and dba CIB Insurance Agency, Inc. in the states of FL/MD/NH.