Later, towards the end of the last century, it also came to include insurance of goods transported by land and, subsequently, by air. Today, the subject of cargo insurance is the goods (the cargo) and the material interests associated with them, regardless of the mode of transport used. Its main purpose is to provide traders with insurance protection against adverse economic consequences arising from the loss or damage of transported goods.

Due to the long transportation distances involved in international trade transactions, the likelihood of such events occurring is significantly higher compared to domestic transactions. By anticipating the possible risks and damages that the cargo may suffer during transportation, participants in international trade seek ways to protect their interests.

According to conventionally accepted definitions, cargo insurance applies to the loss and/or damage of the cargo or the related material interests that are a direct consequence of the risks agreed upon in the insurance contract.

The process of insuring and concluding the insurance contract is always connected with the existence of an insurable interest. The insurable interest is the proprietary interest that the policyholder has in relation to the insured subject matter. It exists when the insured has a direct material interest in the fate of the insured goods.

In transport insurance, the holder of the insurable interest is always the party that bears the risks of loss or damage of the transported cargo. Therefore, in commercial transactions, the moment of arising or transferring the insurable interest between the parties is directly linked to the moment when the risk of the goods passes from the seller to the buyer. In turn, the moment of risk transfer depends on the delivery terms and the agreed price.