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Short-term insurance firm Moovah is expanding into marine insurance to cover goods in transit as well as marine vessels.

Moovah, a subsidiary of EcoCash Holdings Zimbabwe Limited, formerly Cassava Smartech Zimbabwe, said its marine cargo and hull insurance covers cargo losses or damage caused to ships, cargo vessels, terminals and any transport in which goods are transferred or acquired between different points of origin and their final destination.

“By offering protection against transport-related losses, this voyage policy provides a haven for shipping companies and couriers because it protects them from costly potential losses while transporting goods by water,” said Moovah.

The company indicated that despite following laws and safety regulations, transporters cannot control natural occurrences that might disrupt the cargo or the transport vessels.

“Things like weather hazards, cross border conflicts and even encounters with pirates, can happen in water transportation, and the damages associated with these situations can cause significant financial losses for ship owners,” Moovah said.

“This is where a marine insurance policy comes to the rescue, protecting the interests of shipping corporations and transporters by providing them with insurance coverage needed to defend against possible losses”.

Moovah’s marine and hull insurance covers any mechanically propelled water borne vessels, such as yachts, boats small crafts and ships against the perils of the sea, including incidents like collision and capsizing, and legal liability arising from use of the vessels. The cover includes consignments of goods in transit by road, rail or air, from and to places stated in the policy.

“We cover the hull and its accessories in addition to the liabilities arising from the use of the vessel and passenger liabilities. We have a stable and experienced team with a long history of high performance and a consistent approach. We offer an attractive product range supported by first class security and provide an excellent service to our clients,” said Moovah.

The new development comes as freight has been identified as a key sector in Zimbabwe’s landlocked economy as it provides an important link in the entire supply chain of goods. It also facilitates international trade.

Most local businesses and individuals export and import goods from various countries which are then shipped to their final destination. Moovah’s business-to-business insurance service will help small business owners who rely on imports to minimise risks associated with marine transportation.

“As the country continues to seek convenience in import services to link manufacturers to local distribution channels to access cheaper sources of goods and raw materials, Moovah comes in to minimise the gap of threats and risks in the industry,” said Moovah.

To register for Moovah Marine insurance service, interested parties should dial *901#, call 311 or email [email protected].

Moovah, one of Zimbabwe’s fastest growing mobile phone-based insurance brands, also offers other products which allow clients to cover senior citizens, vehicles, property, household contents and other assets.

The insurance company recently introduced a customised motor vehicle insurance cover based on an array of metrics that include behavioural, demographic and mileage data.