Cargo Insurance

    By Rick Bridges (VP, Client Development) and Grant E. Goldsmith (VP, National Accounts)   Warehousing risk is complicated with multiple stakeholders involved in the supply chain with varying levels of responsibility for the cargo. To effectively put together solutions to finance risks, warehouse providers require an insurance broker who understands not only their business but also the complexity of modern warehousing. It takes a broker who comes with the expertise, creativity, and insurer relationships to move beyond what has been traditionally done and can think outside the box. Roanoke’s  Rick Bridges, VP, Client Development, and Grant E. Goldsmith, […]

  Beefing Up Mitigation Measures Essential for Supply Chain Security The coronavirus has upended our lives and businesses with stay-at-home orders, shutdowns, and limited crews to handle ongoing operations with remote work as the new normal. Amid this changing environment, criminals are taking full advantage of the disruption and high demand for personal protective equipment (PPE). Everything from medical-grade N95 masks to surgical gloves, gowns, test kits, and ventilators along with consumer goods such as hand sanitizers, toilet paper, disinfectants, and cleaning solutions are prime targets for counterfeit products and theft. For example, in April, 15,000 coronavirus diagnostic tests and more […]

Cargo Insurance Fundamentals Explained for Logistics Service Providers  We’re thrilled to release the *NEW* e-Book titled, CARGO INSURANCE e-SSENTIALS.  This e-Book was developed to serve as a valuable resource and reference document for Logistics Service Providers and those involved in Supply Chain Logistics. This is the first resource planned in a series of insurance and surety related reference documents. This electronic document will be updated as necessary with new or expanded information related to Cargo Insurance and it how the coverages function in the real world. The goal of this CARGO INSURANCE e-SSENTIALS is to help Logistics Service Providers explain […]

    Multipurpose covers a huge variation of vessels including heavy-lift capability, but all are typically geared with some type of crane or derrick. In this modern age, multipurpose vessels will also have hatch openings that allow full access to ’tween decks and lower holds. While ’tween decks can be fixed but often flexible in their location, lower holds can often stretch the full length of the allowable cargo area. Some multipurpose vessels have lift-on, lift-off; roll-on, roll-off; or float-on, floatoff capabilities, and many have container carrying facilities, both in the hold and on deck. Tony Betteridge, head of marine […]

General Average: A Little-Known but Costly Risk General Average (GA) is an overlooked and poorly understood risk that has significant consequences for cargo owners with shipments that move via ocean vessel. A General Average loss includes possible damage to a shipper’s cargo, delay to the shipment, and additional costs associated specifically with a GA incident. Complicating the matter further, the shipping line that declares the GA has the right to hold the shipper’s goods until acceptable security is posted on their behalf. Shipper’s interest cargo insurance can mitigate all of these expenses and complications. So what exactly does the term […]

Written by Jacob Fisher and Nathaniel Saylor of Scopelitis, Garvin, Light, Hanson & Feary, P.C. International forwarders often enjoy a significant advantage over entities that arrange for domestic transportation in that international forwarders are able to perform a larger amount of their services pursuant to their standard terms and conditions, whereas domestic providers are often required to sign onerous contracts drafted by their customers. Given that reliance on standard terms, the international forwarder is often at a loss when approached by a customer that demands that the forwarder sign a “master services” or similar type of contract covering the forwarder’s services as, invariably, that […]