About Us
For two hundred years, the modus operandi of the insurance industry has been to follow the status quo. Today, protecting and growing your business demands a new perspective. It is time for a different way of looking at risk.
LEARN MORE
Team
Koru offers peace of mind by building and managing efficient risk management solutions that align with our clients’ business objectives.
LEARN MORE
Helping Others
Koru Risk Management prioritizes supporting non-profit and community-based charitable organizations dedicated to enhancing the well-being, inclusion, and essential services for our community's most vulnerable members.
LEARN MORE
Commercial Insurance
KORU Korner Overview
Blog
The latest insurance industry news, insights, and thought leadership from Koru Risk Management.
LEARN MORE
News & Articles
The latest insurance industry news and articles to help clients stay abreast of the topics that matter most.
LEARN MORE
Cargo and transit insurance, often referred to simply as cargo insurance or marine cargo insurance, is a specialized type of insurance coverage designed to protect goods and merchandise while they are being transported from one location to another, whether domestically or internationally.
Types of Policies:
Cargo and transit insurance policies can vary in scope and can be tailored to suit the specific needs of the shipper or cargo owner. Common types of policies include:
All Risk: This provides the most comprehensive coverage, protecting against a wide range of perils, with certain exceptions clearly specified in the policy.
Named Perils: These policies cover only specific risks that are explicitly listed in the policy. Common named perils might include fire, theft, collision, and certain natural disasters.
Inland Transit Insurance: Designed for goods being transported within a country, this coverage typically includes both land and waterway transportation.
Ocean Marine Insurance: Primarily focused on goods transported by sea, ocean marine insurance is crucial for international shipping.
Additional Considerations
Cargo and transit insurance is a crucial safeguard for businesses involved in the movement of goods, whether domestically or internationally. It provides protection against a wide range of risks that can occur during transit and ensures that businesses can recover financially in the event of loss or damage to their cargo.
The intricate field of insurance is often challenging for businesses to navigate. The emergence of Insurance Risk Purchasing Group (IRPG) or more commonly known as Risk Purchasing Group (RPG) offers a collaborative approach for organizations to streamline their insurance procurement processes.
Are you looking to buy another company? Folding its property, customers and employees into your organization is no small feat. Even if you plan to keep it as a subsidiary, you need to do full due diligence on the insurance aspect of the deal. This rundown can help you prepare so your transaction doesn’t fall through or saddle you with regret.
Cyber insurance provides more than just financial recovery, offering risk mitigation tools like incident response planning, breach response services, cybersecurity training, and pre-breach assessments to help businesses prevent and manage cyber threats. However, coverage for global operations, biometric privacy claims, and newly acquired entities varies by policy, so businesses must carefully evaluate their plans to ensure they receive both proactive security support and financial protection.
For real estate and property management clients, balancing the cost-saving benefits of higher insurance deductibles with lender requirements can be challenging. Strategies such as deductible buy down policies, indemnity agreements, and reimbursement policies help insureds reduce premiums while meeting lender expectations. Additionally, effective collateral management, including alternatives like letters of credit and third-party trust arrangements, is critical for clients navigating the increasing costs and evolving requirements of loss-sensitive insurance programs.
Request a Risk Assessment today!
