ICE CargoDocs eRisk Insurance
In addition to electronic Bills of Lading (eBLs) being more secure than their paper counterpart, ICE CargoDocs eBLs also include insurance against fraud and related risks. The same insurance cover also applies to ICE CargoDocs electronic Warehouse Warrants (eWWs).
Since ICE CargoDocs electronic Bills of Lading have relevant P&I approvals, carriers remain within the terms of their P&I cover when using the solution. Notwithstanding the above, ICE Digital Trade is required to maintain insurance which covers all eBL users as follows:
- for eRisks with a limit of US$20 million for any one eBL
- for other liabilities arising under the DSUA with a limit of US$1 million
eRisks comprise of the following:
- eFailure – risks of losses caused by the internal operation of the ICE CargoDocs Document Exchange including a failure which results in the misissuance or misdelivery of an eDoc or the inability to access an eDoc
- eCrime – risks external to the operation of the ICE CargoDocs Document Exchange which may result in a fraudulent interaction with an eDoc, for example, hacking.
*ICE CargoDocs Insurance is subject to the terms and conditions of the Users Agreement (DSUA)