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ICE CargoDocs eRisk Insurance

In addition to electronic Bills of Lading (eB/Ls) being more secure than their paper counterpart, ICE CargoDocs eB/Ls 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 (formerly essDOCS) is required to maintain insurance which covers all eB/L users as follows:

  • for eRisks with a limit of US$20 million for any one eB/L
  • 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)