Page 15 - Logistics News - March_April 2022
P. 15
FREI GHT
Training of transport operators
Freight handling and loading is also a risk that requires
training to ensure that drivers and transport operators know
how to load and offload cargo correctly, as well as the correct
storage and handling conditions of such goods – for example,
perishables and flammable items. In such instances, it’s
important to understand whether your insurance coverage
applies once cargo is offloaded and ownership or possession is
transferred to another party.
The importance of insurance
“It’s crucial to fully interrogate the value and nature of the
goods being transported, and, in turn, ensure that your marine
insurance limits and conditions of cover are correctly scoped,”
advises Bisla.
As the effects of the pandemic continue to be felt in
terms of a decline in trade volumes, service providers in the
supply chain are chasing a smaller pool of ships and cargo.
The temptation to cut costs and skimp on insurance in a bid
to secure business should be avoided at all costs, and freight
operators would do well to apply proper risk management and
assessment protocols to reduce their exposures in uncertain
and challenging economic conditions. A catastrophic loss of
cargo that is not correctly insured could spell the end of the
business and a raft of crippling liabilities.
Use an experienced marine insurance underwriter
and broker
It is here where the skills and sector knowledge of
an experienced marine insurance underwriter and
professional broker can prove invaluable. “Ultimately,
it is the marine insurance broker who will assess the risks
faced by their client, prepare the broking notes in accordance
with the client’s needs, ensure compliance with the sector
rules and regulations, negotiate and place the risk with an
insurer. Professionalism and expertise are beneficial
in this critically important business that underpins the
world trade and economy,” asserts Bislae.
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