Insurance Market

In foreign trade, the insurance market specifically refers to the sector of insurance services that provides risk protection for international trade cargo transportation, mainly including marine, air, land, and multimodal transport insurance. Its core participants are insurance companies, insurance brokers, and policyholders (exporters/importers). It is commonly used in trade terms such as CIF and CIP where the seller arranges insurance, or in terms such as FOB and FCA where the buyer arranges insurance. Note: The insurance market is affected by the financial regulatory policies of various countries, and different markets vary greatly in coverage, premium rates, and claims efficiency; when arranging insurance, it is necessary to specify the type of coverage (such as FPA, WA, All Risks) and the insured amount (usually 110% of the invoice value). The difference from 'insurance broker' is that the insurance market is the overall trading environment, while a broker is an intermediary role; the difference from 'insurance policy' is that an insurance policy is a specific contract document, while the insurance market is an abstract collection of services. Foreign trade practitioners should pay attention to fluctuations in the insurance market, such as war risk surcharges and strike risk restrictions, in order to reasonably control costs and risks.