Essentially, insurance is created to protect anything valuable from damage and loss; as for exporting goods and logistics, delays are also another matter that needs to be protected from (simply because time equals money in the business world).

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Exporting goods are usually insured against these issues, though frequently limited by international agreements and it’s made by either buyer or seller/supplier, depending on the terms of sale and/or Incoterms used.

To Note

To put a light on it, if the terms of sale require the exporter to obtain insurance, it can do so by themselves or through freight forwarders’ assistance (with additional fee). For the buyer to obtain an insurance policy, it’s best for the supplier to confirm the details beforehand to avoid unnecessary loss.

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