Insurance & Risk Management

Insurance for Transport of Equipment and Other Items

WHOI's cargo shipping insurance is ocean cargo insurance covering global transit and interim warehousing.  This applies to all modes of transportation anywhere in the world. The cost of this insurance when the value of the cargo is within the policy limits is included in the Institution's overhead rates. Coverge is triggered by submitting a shipping request through the Distribution web page.

The limit of the insurance policy to the value of any one shipement under a bill of lading is $6,000,000. Hand carried equipment has a separate limit of $100,000. If your shipment or hand carried equipment exceeds these values, higher limits will need to be requested which could result in additional premium. Insurance is available only for shipments made through a WHOI shipping request and remains in effect while the shipment is under a bill of lading or is controlled by a freight forwarder or ship's agent. Shipments waiting to continue transit under a bill of lading are covered in a warehouse for up to 30 days. Shipments waiting to be picked up at destination are covered for 15 days. Extra coverage can be arranged if you need more time. This could result in additional premium.

Deductibles are, for cargo shipments under a bill of lading, $2,500; hand carried equipment, $10,000; laptops, $500.

Please see the Cargo Insurance FAQ page for details.

Last updated: December 31, 2013