Who can issue and sign insurance policies?

Some documents used in international trade should be issued and signed by predefined parties in order that document could function its role.

For example, a bill of lading should be issued and signed by the carrier, master or their agents. 

Additionally freight forwarders could issue and sign bills of lading in some occasions.

Likewise, commercial invoices should be issued and signed by the sellers or exporters and pre-shipment inspection certificates are expected to be issued and signed by the independent surveyors.


Today I would like to explain the issuance party of the insurance policies.

Issuance of Insurance Policies:

There are various types of insurance policies issued every day for different types of risks. In international trade our focus primarily on cargo insurance policies. Please read insurance policy as cargo insurance policy on this website unless otherwise indicated.

An insurance policy should be issued by an insurance company, an underwriter or their agents or their proxies.

Cargo Insurance Policy Issued by an Insurance Company:

‘‘Insurance company’’ means a company which is organized as an insurance company, whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies. 

Cargo Insurance Policy Issued by an Insurance Company's Agent:

‘‘Insurance company's agent’’ means a company or individual who acts for insurance company (the principal) usually for reward. Brokers should issue cargo insurance policies as agents for the insurance companies, if payment term is letter of credit. 

Cargo Insurance Policy Issued by an Underwriter:

"Underwriter" means the individual who is responsible for underwriting a particular insurance or reinsurance contract and who is either an employee of a managing agent, an insurance company or reinsurance company or an employee of a coverholder or any similar underwriting agent.

Cargo Insurance Policy Issued by an Insurance Company's Proxy or Underwriter's Proxy:

An insurance policy may be issued by a proxy of an insurance company or an underwriter.

Signature of Insurance Policies:

An insurance document, such as an insurance policy, an insurance certificate or a declaration under an open cover, must appear to be signed by an insurance company, an underwriter or their agents or their proxies.

Any signature by an agent or proxy must indicate whether the agent or proxy has signed for or on behalf of the insurance company or underwriter.
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