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What types of insurance are necessary for a cross-border export?
- Cargo insurance: The purpose of cargo insurance is to cover the insured for loss or damages caused to the goods during their transportation. Total or partial risks may be covered for events such as fires, crashes, explosions, etc. Insurance can also be applied to theft, contact with other loads, spills, etc.
- Insurance for commercial risks: There are some insurances that cover commercial risks in the case of the importer's financial inability to cover debts. The types of insolvency around commercial risks are legal, de facto and protracted default.
- Insurance for civil responsibility: This type of insurance is an indispensable requirement to carry out commercial operations in international markets, particularly in the United States. This insurance covers damages and moral damages that may be caused to third parties due to the traded product, as well as death, damage to health or damage to the property of third parties.
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