Interest Insured

What is Interest Insured? 

An “interest insured” (or “insured interest”) means that financial or ownership right that a party (like an insurance purchaser) has in the lost or damaged cargo. These parties may include the owner of the cargo, the carrier transporting the cargo, and any other parties that have a financial stake in the cargo.

The interest insured is typically defined in the policy language and may include the policyholder and other parties named in the policy, such as a consignee, a shipper, or a buyer. It is important for policyholders to carefully review the interest insured section of their cargo insurance policy in order to ensure that all relevant parties are adequately covered in the event of a loss, damage, or theft of the cargo.