What does RISI mean in INSURANCE

A RISI includes all the details associated with a particular shipment such as the sender, receiver, type of freight and shipment method. Additionally, it contains specific instructions regarding insurance coverage for the goods shipped, including any limitations imposed by the insurer.

Once a request for insurance has been made, an agreement between both parties is created outlining the specifics of the insurance cover being provided. This will include details about what is and isn't covered as well as any additional conditions that need to be met before making a claim.

Generally speaking, whoever is ordering or shipping the goods will be responsible for paying the costs associated with obtaining insurance on those items. Depending on the type of freight and carrier used this cost can vary significantly so it should always be taken into account when estimating overall shipping costs.

If there are changes that need to be made to your RISI after it has been submitted then you should contact your insurer directly before any adjustments are made on their end. Depending on their policies some insurers may not allow changes to be made once a policy has gone into effect and charges may apply if alterations have already been processed.

If you forget to submit your RISI then you risk not having adequate protection against losses or damages during transit which could have serious financial consequences if something goes wrong with your shipment. In these cases it is best to err on the side of caution and ensure all requests for insurance are completed in full prior to shipping anything overseas.