Mitigating Risk, Securing
Value
We provide comprehensive cargo insurance solutions that protect your financial interests against unforeseen transit risks, ensuring total peace of mind for every shipment.
Specialized Insurance Capabilities
From basic liability coverage to comprehensive all-risk protection, we deliver flexible solutions adapted to your specific requirements.
Maximum Protection
The “Institute Cargo Clauses (A)” represents the widest standard cover available. It protects your goods against all risks of loss or damage efficiently, excluding only specific exclusions like willful misconduct. This is the recommended standard for all general commercial cargo.
- Covers theft, breakage, and non-delivery.
- Includes water damage and fire.
- "Door-to-door" coverage duration.
Cost-Effective Basics
For lower-value bulk commodities or scrap metal, “Institute Cargo Clauses (C)” offers essential protection. It covers major casualties such as vessel collision, fire, overturning, or general average, providing a budget-friendly safety net against catastrophic loss events during transit.
- Covers major accidents and collisions.
- General Average contribution coverage.
- Ideal for bulk and raw materials.
Conflict Zone Coverage
Given the geopolitical complexities of the region, standard policies often exclude war risks. We provide specific extensions for “War and Strikes, Riots, and Civil Commotions” (SRCC), ensuring your cargo remains protected even in volatile environments or during civil unrest.
- Essential for Iraq shipments.
- Covers civil commotion and terrorism.
- Separate institute clauses apply.
High-Value Engineering
Complex projects involving turbines, generators, or oversized machinery require specialized underwriting. We structure bespoke policies that cover Delay in Start-Up (DSU) and consequential loss, ensuring that
- Delay in Start-Up (DSU) options.
- Consequential loss protection.
- Surveys and warranty compliance.
Fast Settlement Support
An insurance policy is only as good as its claims process. Our dedicated team acts as your advocate, managing the documentation, survey coordination, and negotiation with underwriters to ensure that valid claims are settled promptly and fairly.
- Local surveyor coordination.
- Document collection assistance.
- Negotiation with global underwriters.
Advantages
The TTS-Iraq Advantage
Bridging global standards and local realities, our infrastructure mitigates risk to ensure compliance and consistent results.
Beyond Carrier Liability
Many shippers mistakenly believe carrier liability covers the full value of their goods. In reality, carrier liability is strictly limited by international conventions (like SDR per kg). Our cargo insurance closes this dangerous gap, reimbursing you for the full commercial value of your invoice plus freight costs, ensuring true financial recovery.
Iraq Risk Expertise
Insuring cargo to Iraq requires specific knowledge of regional exclusions and warranties. We work with first-class European underwriters who understand the Iraqi market. This ensures your policy includes the critical “War and Strikes” clauses that generic insurers often omit, providing valid protection where you need it most.
Integrated Logistics
By bundling insurance with your freight booking, you eliminate administrative gaps. We issue the insurance certificate instantly alongside your transport documents. This integration ensures that the coverage terms perfectly match the Incoterms and routing of your shipment, preventing technical disputes if a claim needs to be filed later.
End-to-End Operational Visibility
From policy issuance to claims settlement, we provide a transparent process, keeping you informed at every critical stage.
Risk Assessment
We assess your specific cargo value and risk profile to structure the optimal insurance policy coverage before departure.
Certificate Issuance
We issue the official insurance certificate instantly, ensuring full documentation compliance for banking and customs clearance requirements.
Incident Survey
In the event of loss or damage, our team coordinates immediate surveys to document the incident evidence.
Claims Settlement
We manage the entire claims negotiation process with underwriters to ensure a fair and expedited financial settlement.
Ready to insure your cargo?
Connect with our risk management experts today to receive a comprehensive insurance quotation specifically tailored to meet your unique shipment value and align seamlessly with your specified risk tolerance levels.
Frequently Asked Questions
Gain clarity on coverage limits, war risks, and claims procedures to ensure your shipments move smoothly.
Is cargo insurance mandatory for shipments to Iraq?
While not always legally mandatory, it is highly recommended. Carrier liability is limited by weight (e.g., $20 per kg), which is rarely enough to cover the value of commercial goods. Insurance protects your full investment.
What is the difference between "All Risk" and "Total Loss"?
“All Risk” (ICC A) covers partial damage, theft, and shortage. “Total Loss” or “FPA” (ICC C) generally only pays out if the entire shipment is lost due to a major catastrophe like a vessel sinking or fire.
Does standard insurance cover war risks in Iraq?
No. Standard policies usually exclude war. You must specifically request “War and Strikes” (SRCC) clauses. TTS-Iraq automatically includes these essential extensions for shipments destined for Iraq.
How is the insurance premium calculated?
The premium is calculated as a percentage of the “Insured Value.” The Insured Value is typically the Commercial Invoice Value + Freight Cost + 10% (imaginary profit).
What should I do if my cargo arrives damaged?
Do not sign a “clean” delivery receipt. Note the damage on the delivery note, take photos immediately, and notify TTS-Iraq within 24 hours. We will arrange for a surveyor to inspect the cargo.
Can you insure used or second-hand machinery?
Yes, but coverage is often limited to “Total Loss Only” or “Named Perils” (ICC C). “All Risk” coverage is typically reserved for new goods packed in export-standard packaging.