The earliest known historical references to cargo insurance date back to the time of the Phoenicians, some 3,000 years ago. At first, merchants began managing risks through Reduction.
Rather than to load each of four ships headed to a similar destination with the entire cargo of four individual owners, 25% of each owner's cargo was placed on each ship. Therefore, the loss of a ship would not result in a total loss for any owner. Under General Average, those whose cargo survives a voyage are assessed to repay the loss of another shipper whose cargo may have been jettisoned or lost for the protection of the vessel and the remaining cargo.
During the British Empire, individuals began insuring the risk to cargo on voyages.  Voyages were written on a board in Lloyd's Coffeehouse in London. Individuals willing to assume a portion of a voyage's risk would write their names below the voyage and the percentage of the risk they were willing to accept. Thus the term "Underwriter". Do you really have enough coverage to protect the cargo that you're moving halfway around the world? Do you know when you are covered and when you are not covered? Don't find out the hard way that you don't have enough insurance! Let us assist you with cargo insurance that offers the best protection available at rates you can well afford. Through our group's consolidated buying power, we have negotiated a highly comprehensive cargo policy that includes enhanced coverage that you may have difficulty purchasing on your own. We have the flexibility to structure your cargo insurance coverage based on your tolerance for risk. You may choose to purchase the maximum or the minimum coverage available. You may also use deductibles to reduce your insurance costs further. We will work with you to customize your insurance program.

There are three facts you should know when shipping cargo:
	Carriers are not liable for damages to your cargo from Acts of God. You are - and a hurricane, earthquake or other disaster could wipe out your entire business! You can't predict when nature will strike. But you can protect your goods with cargo insurance.
	Stolen or mishandled cargo is your company's responsibility. Ocean, air, and surface carriers can limit their liability according to their tariffs or bills of lading. If your cargo is stolen or damaged in transit, your settlement may not even cover your replacement costs.
	Your buyer's or supplier's insurances are not sufficient. It's risky to rely on someone else's insurance. Their coverage may cover certain risks, yet leave you wide open to others. Purchasing your own policy puts you in control of the coverage options and the costs.

Geo Global Co., Ltd.
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21 Soi Esinamai, Sukhumvit 15 Road, Klongton Nua
Wattana, Bangkok 10110, Thailand
Tel.: (+66-2) 717-2525; Fax: (+66-2) 717-1796
E-mail: info@geo-global.net

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