Shippers urged to take another look at cargo insurance.

A fundamental misconception of risk is causing many shippers of ocean freight to completely overlook the need for cargo insurance of any kind and to cover against a multitude of eventualities. Many industry professionals fear the endemic perception that insurance is unnecessary or not worth the expense is unlikely to change in the foreseeable future.

One estimate is that more than 90 percent of all cargo imported into the United States (US) does...