Commercial Marine Insurance Programs are Vital to Our Economy

Much of the trade and product distribution in the US is dependent upon companies involved with global supply chains and the logistics service providers that work fervently to ensure the delivery of goods in the US and around the world. Commercial Marine Insurance Programs consist of services and products specifically designed to respond to the intricate risk profiles of the many entities that make up this dynamic and complex industry.

Brokers like you need to be able to provide your clients in the marine cargo industry, many involved in the transportation of goods on state highways, including oversized cargo, along with warehouse operators, with flexible and broad coverage for travel by rail, road and waterways. Many of your clients understand the value of a stock throughput policy that provides coverage from the “cradle to the grave.” Providing the necessary insurance solutions to ensure that they are covered in the event that any one of a number of issues develop during their daily operations gives them much needed peace of mind.

Worldwide stock throughput coverage is vital

A Stock Throughput policy is helpful in eliminating possible coverage gaps thereby creating a policy that protects many products and other merchandise on a global basis from loss or damages that may occur. This policy provides a safeguard for the entire time the insured is responsible for the goods in their care. As the broker you’ll be providing not only continuous coverage, but also a simple and easy claims process, and reduced premium expenses as well.

Freight forwarders, property brokers, and warehouse operators are unfortunately all in a position to be held liable for any damage to precious cargo while it is in their care, custody and control. This includes those times when they are arranging for transport of the shipments. Explain the benefits of this coverage (available in various forms) to provide defense to intermediaries against any allegations of neglect or mishandling and provide for indemnification in instances where they are found negligent.

Warehouse operators also have a legal responsibility for cargo lost or damaged while in their custody. Providing them with bailee legal liability coverage, also available under Commercial Marine Insurance Programs, will satisfy their needs when a claim is brought against them as well.

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Commercial Inland Marine Insurance Programs

Commercial Inland Marine Programs are instrumental in helping businesses with increased levels of exposure to carry customized insurance coverage. Many commercial marine insurance solutions are made available to companies dealing in global supply chains or as logistics service providers. Products are specifically designed to respond to all of the unique risk profiles of the many entities that make up this dynamic and complex industry.

As specialists who serve this business model, you must have the required knowledge to help your clients find the best commercial marine insurance for their company, and at the best price. This provides them with the peace of mind to tend to their customers and the chore of running a complex business that must often deal with intense competition.

Looking at the many benefits of marine insurance

Inland marine coverage provides comprehensive protection on goods in transit worldwide, including storage, and provides solutions tailored to the size and complexity of exposures that are often faced. Your clients are depending on you to help them receive a fast and flexible underwriting response when the time comes and a carrier that can give them the sort of customized global claim and recovery programs that they’ve come to expect.

There are plenty of risks involved in the business of moving freight from one place to the next, and companies must review their supply chain security to ensure they are taking the necessary precautions to protect their goods and employees from any criminal activities taking place in the world today. In addition, they should have a robust marine cargo insurance program in place to protect against any and all transit risks.

Problems can occur in many different ways, and your client is responsible for the safe transit, and delivery of goods entrusted to them. The list of dangers is long, and can include everything from incidents involving rough handling, collision, overturn, or theft, to non-delivery, wrong destination, and even cases involving jettison. When they’re ready to discuss coverage options, you need to partner with someone that specializes in insuring transportation and global logistics service providers including securing Commercial Inland Marine Insurance Programs.

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The Benefits of Marine Surveyor Insurance

Marine surveyors provide essential services to the marine industry, including the performance of inspections of vessels of all types, including pleasure craft, passenger vessels, tugboats, barges, and dredges. In addition, they regularly inspect oilrigs, ferries, cargo vessels and warships, along with marine cargo, marine engines and facilities (such as canals, dry-docks, loading docks and more) for the purpose of pre-purchase evaluation, insurance eligibility, and insurance claim resolution and regulation compliance.

Obviously there may be significant risks that these professionals need to address, including claims of errors, omissions and other often-costly mistakes requiring a total insurance solution. They also need to concern themselves with issues of loss control and risk management in order to minimize and prevent losses from occurring. Agents that specialize in marine surveyor insurance are capable of providing this solution.

Boatman of all types and sizes can benefit from these services

It’s important to have a detailed inspection of a boat performed by a qualified surveyor for the purpose of determining its current condition, as well as its seaworthiness. For example, an expert is best suited to determine if the vessel is safe to use in the conditions for which it was designed, and suggest what maintenance and repairs may or may not be required (or are likely to be required in the near future).

Most first-time buyers are not yet experienced enough, or mechanically inclined enough to make an adequate evaluation on their own, while those who are qualified can benefit immensely from a second, professional opinion. Buying a marine survey buys peace of mind provided that the surveyor does a thorough job and does not demonstrate any type of negligence in establishing their determination regarding the vessel.

Anyone who purchases a boat, first and foremost, wants to learn everything that will be necessary to maintain the vessel properly in order to keep themselves and their families safe, along with securing their investment. A good surveyor will be familiar with most models, aware that certain types and makes of boats may be prone to having recurring problems or requirements. In this way they can advise clients on the long-term suitability of their intended purchase.

As a surveyor, your reputation and your business could be on the line from one careless mistake. Having marine surveyor insurance will help keep you from losing everything if an unhappy customer sues you over accusations of negligence on your part.

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