Presets
Shipment parameters
USD
Industry convention: insure at CIF + 10% per ICC Incoterms 2020. Enter your actual insured sum.
MT
Coverage & rate (user-supplied)
Lloyd's Market Association standard clauses.
Lloyd's of London · IUMI marine cargo statistics · IMIA (mining/construction)
%
Indicative range only — user must supply actual broker/underwriter quote. Rates vary materially by commodity, route, packing, vessel age, claims history and insurer appetite. Consult Aon, Marsh or WTW.
/yr
Disclaimer. All rate inputs are supplied by the user. Default values shown are illustrative indicative ranges only and do not represent quotes from TSM, any Lloyd's syndicate, carrier, broker or reinsurer. Do not use this output as a binding insurance quote. Actual premiums depend on full underwriting information. This calculator performs arithmetic only.
Gross premium output
Gross premium
—
per shipment (USD)
Annual premium
—
all shipments/yr
Per tonne
—
USD/MT per shipment
Rate applied
—
% of declared value
Breakdown
| Item | Value (USD) |
|---|---|
| Declared / insured value | — |
| ICC tier | — |
| Rate applied | — |
| Gross premium per shipment | — |
| Shipments per year | — |
| Annual premium total | — |
Primary sources — marine cargo
- Lloyd's Market Association (LMA) — Institute Cargo Clauses (A), (B), (C)
- Lloyd's of London — marine market overview
- IUMI — International Union of Marine Insurance — cargo loss statistics
- IMIA — International Marine & Infrastructure Assurance — mining/construction exposure
- ICC Incoterms® 2020 — insurable interest and CIF+10% convention
- Aon — marine & cargo broker research portal
- Marsh McLennan — marine cargo market reports
- WTW (Willis Towers Watson) — cargo & specie
Presets
Vault exposure
USD
% p.a.
Indicative range — supply actual quote. Commercial vault operators (Brinks, Loomis, Malca-Amit, VIA MAT) include specie cover in custody agreements or quote it separately.
Transit exposure
Annual specie premium
Annual vault premium
—
USD p.a.
Annual transit premium
—
USD p.a.
Combined annual total
—
vault + transit
Per transit
—
USD per movement
Breakdown
| Component | USD |
|---|---|
| Vault stock value | — |
| Vault rate × vault value | — |
| Transit value × rate × count | — |
| Annual total | — |
Presets
Base cargo premium
USD
Typically the ICC (A/B/C) gross premium for the same voyage. Can be copied from Module 1 output.
USD
JCC War & Strikes add-on rate
LMA Joint War Committee (JWC) publishes Hull War, Strikes, Terrorism and Related Perils — Listed Areas. Cargo war risk surcharges attach separately per JCC clauses.
%
Indicative range — supply actual broker quote. JWC-listed area rates are reviewed frequently and can spike sharply (Red Sea surcharges reached 0.5–1.0% during 2024 Houthi disruption). Source: LMA / Lloyd's.
/yr
Disclaimer. War & strikes surcharges are zone- and vessel-specific and change frequently. Rates shown are illustrative only. The JWC Listed Areas are updated by the Lloyd's Market Association. Always obtain a current broker quote for any listed area transit.
War & strikes premium output
W&S premium per shipment
—
USD (on insured value)
Base cargo premium
—
USD per shipment
Combined per shipment
—
cargo + W&S
Annual W&S total
—
listed area shipments
Breakdown
| Item | USD |
|---|---|
| Insured cargo value | — |
| W&S surcharge rate | — |
| W&S premium per shipment | — |
| Base cargo premium per shipment | — |
| Combined per shipment | — |
| Shipments in listed area | — |
| Annual W&S premium | — |
Presets
Stock Throughput (STP) parameters
USD/yr
Total annual value of stock passing through the covered supply chain (mine → port → refinery → warehouse → buyer). GISTM — tailings risk factor for STP cover on mining operations.
STP rate (user-supplied)
Disclaimer. STP rate is user-supplied. Defaults are illustrative ranges only. STP policies cover a defined supply-chain footprint; actual underwriting requires full schedule of locations, stock values, transit modes and commodity descriptions. No TSM warranty expressed or implied.
STP premium output
Annual STP premium
—
USD p.a.
Monthly run-rate
—
USD/month
Cost per $1M cover
—
blended USD per $1M throughput
Rate applied
—
% of annual value
Breakdown
| Item | Value |
|---|---|
| Annual throughput value | — |
| STP rate | — |
| Annual STP premium | — |
Presets
Political Risk Insurance (PRI) parameters
Framework per Berne Union country risk classification, MIGA Investment Climate and US DFC country eligibility.
Also see: Sinosure (Chinese ECA, key for China-origin metals flows).
USD
months
PRI base rate (user-supplied)
% p.a.
Indicative range — supply actual RFQ.
Tier 1: ~0.3–0.6% p.a. | Tier 2: ~0.5–1.0% | Tier 3: ~0.8–1.5% | Tier 4: ~1.5–2.5% | Tier 5: not generally available commercially.
Providers: MIGA, US DFC, Berne Union members, Sinosure, Lloyd's PRI syndicates, Aon.
Disclaimer. PRI rates are highly individualised. Tier ranges shown are indicative only — actual premiums depend on specific country, project type, investor domicile, tenor, limit and insurer capacity. MIGA, DFC and ECAs have separate pricing methodologies. The Berne Union publishes aggregate statistics, not individual rates.
PRI premium output
Total PRI premium
—
USD for full tenor
Monthly run-rate
—
USD/month
Per $1M of cover
—
USD per $1M limit p.a.
Country tier
—
Berne Union / MIGA / DFC
Breakdown
| Item | Value |
|---|---|
| PRI limit | — |
| Annual rate | — |
| Tenor (months) | — |
| Annual premium (on limit) | — |
| Total premium for tenor | — |
Primary sources — PRI
- Berne Union — export credit & investment insurance statistics, country risk
- MIGA (World Bank Group) — political risk insurance, investment guarantee
- US International Development Finance Corporation (DFC) — political risk products
- Sinosure — China export credit insurer (ECA)
- Lloyd's of London — political risk & credit syndicates
- Aon — political risk analytics & structuring
- Marsh — political risk & structured credit
Presets
Trade credit insurance parameters
USD
Total annual receivables to be covered, or single buyer credit limit if single-buyer policy.
Ratings mapped to Allianz Trade / Atradius / Coface buyer grade equivalents. Providers also use proprietary buyer grades.
days
%
Proportion of the insured debt covered on a valid claim. The buyer retains the remainder as co-insurance.
Trade credit rate (user-supplied)
% p.a.
Indicative range — supply actual RFQ from insurer.
Rates from Allianz Trade (Euler Hermes), Atradius, Coface depend on sector, buyer quality, tenor, geography and loss history.
Also see Berne Union member statistics for ECA-backed short-term credit insurance.
Disclaimer. Rate defaults are indicative only. Trade credit premiums are computed on the insurer's own buyer grading and portfolio model. Actual quotes require a full application to Allianz Trade, Atradius, Coface, Sinosure or a Lloyd's trade credit syndicate.
Trade credit premium output
Annual premium
—
USD p.a.
Covered exposure
—
USD (turnover × coverage%)
Cost per $1M turnover
—
blended USD per $1M
Monthly run-rate
—
USD/month
Breakdown
| Item | Value |
|---|---|
| Annual turnover / credit limit | — |
| Coverage % | — |
| Covered exposure | — |
| Rate applied | — |
| Annual premium | — |
Primary sources — trade credit
- Berne Union — short-term & medium-term credit insurance statistics
- Allianz Trade (Euler Hermes) — trade credit insurance
- Atradius — credit management & insurance
- Coface — trade credit & country risk
- Sinosure — China ECA short-term credit insurance
- Lloyd's of London — trade credit & political risk syndicates
- MIGA — investment & trade finance guarantees
Glossary terms on this page
Marine Cargo Insurance
ICC (A/B/C)
Specie
War & Strikes (JCC)
JCC
STP
PRI
Trade Credit Insurance
Surety
Subrogation
Indemnity
Commodity class