chapter  16
CARGO INSURANCE IN THE MULTIMODAL CONTEXT: FULL AND COMPLETE COVER?
ByB. Soyer
Pages 23

The rise of multimodal transport coincides with the container revolution in the 1950s. Today, as a result of the remarkable development of terminal infrastructure and stateof-the-art container handling facilities, particularly in key trading states, 1 multimodal transport has gained a predominant role in international trade and contributes to the global economy by reducing the duration of transportation and its cost dramatically. Multimodal transport operators offer cargo interests (shippers and/or consignees) the prospect of entering into a single carriage contract covering different legs of the transit, and this has a certain degree of appeal for the cargo interests as it provides simplicity in terms of the legal regime regulating their contractual dealings with various carriers. However, in light of the fact that different legal regimes might still apply compulsorily under a multimodal carriage contract, depending on the stage at which the loss or damage is sustained 2 and the unpredictability of the liability regime that will govern, the need for obtaining insurance from the market for cargoes carried by multimodal transport operators has not diminished.