High Cargo Survey Thresholds – is ignorance really bliss !! ?

There seems to have been a gradual but noticeable trend amongst cargo insurers to increase cargo survey waiver thresholds. Some insurers have waived their survey instructions below thresholds as high as £25,000. The rationale behind the trend is sound. Cargo surveys are expensive. Presuming that most claims below the threshold are valid and not hugely inflated then the saving in survey fees outweighs the financial benefit to insurers. Obviously, this…