What must the assured do following the discovery of a loss in cargo insurance?

The correct answer is to notify the insurance carrier. When a loss is discovered in cargo insurance, it is essential for the assured (the insured party) to promptly inform the insurance company of the loss. This notification is critical because it initiates the claims process, allowing the insurer to assess the situation and determine the validity of the claim.

Timely notification is often required by the terms and conditions of the insurance policy. It sets in motion an investigation into the loss by the insurance company and supports the claims handling process. The sooner the insurance carrier is notified, the better the prospects for a smooth resolution and potential recovery of the insured amount.

While submitting a new claim might seem like a logical next step, it typically occurs after notifying the carrier and is usually part of the claims process that follows the notification. Filing for an insurance refund is not the standard procedure for losses, as refunds pertain more to premium payments rather than claims for losses. Lastly, while contacting legal counsel might be necessary in some cases, it is typically not the immediate step that needs to be taken following the discovery of a cargo loss. The priority should be to notify the insurer to ensure compliance with the policy terms and facilitate the claims process.