Businesses, other than those purely involved in online services alone, constantly have their goods in transit and exposed to many risks. This includes both raw materials from vendors to plants, semi finished, finished goods from warehouses to customer destinations, transit of capital goods and containers etc.

Such inventory faces serious risks of losses during transit: by theft, fire, flood, strikes, riots, accidents, etc. all of which may result in despatches ruined and sales affected.

Odin offers a wide range of insurance products from all major insurance providers that cover the risks listed above. A niche product also covers damage to the shipping vessels themselves.

Products

Sales Turnover Policy

Sales Turnover Policy

Any company in the business of manufacture, import, and/or export of material should insure its goods at all stages of its movement in a product’s cycle, for instance from a vendor to the factory, from the factory to the port, from port A to port B, and so on, under a ‘Sales Turnover Policy’ (or ‘STOP’, in insurance parlance). Just insure yourself for the expected annual turnover and you are done!
Single Transit Policy

Single Transit Policy

Any organization that has goods being in transit occasionally and needs them to be covered by insurance against losses that may occur during transit can consider the Single Transit Insurance Policy. Advantages of this policy are that it is simple and economical, and serves the purpose by covering the goods as long as they are in transit from a declared Point A to a declared Point B and ceases thereafter. The disadvantage of course is that it must be entered into on the occurrence of every such transit.
Open Marine Policy

Open Marine Policy

An Open Marine Policy is a policy that covers several shipments or despatches over a period of 12 months, based on the Estimated Sum Insured to be adjusted against the value of each shipment, using a reducing balance method. The policy provides automatic and continuous insurance cover to a regular exporter, importer, domestic trader, or manufacturer. The Insured party is bound to declare each and every shipment without any exceptions. Refund of premium on unadjusted Sum Insured is allowed to the insured after expiry of the policy.
Marine Hull Policy

Marine Hull Policy

The Marine Hull Policy has been created specifically to attend to the special requirements of owners of seafaring vessels such as luxury ships, cruise liners, cargo ships, and even yachts and boats. Such craft are not normally covered under other policies for loss or damage, but they are expensive equipment and need special cover. Under the Marine Hull Policy, such craft are covered for damage and theft, while at port or at sea. Other aspects such as third-party damage can be covered too.

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