March 13, 2017 | Events, Industry Insights
Roanoke Trade Webinar Series Features Importance of Risk Management for Logistics Service Providers
As a leading provider of insurance solutions for freight forwards, customs brokers and other logistics service providers, one of the key components in helping our clients mitigate and prevent losses is through the implementation of strong risk management strategies, practices, and tools. To this end, Roanoke Trade has developed a complimentary Risk Management Webinar Series for 2017 to help clients enhance their awareness of potential risks in day-to-day operations and provide solutions to help manage these risks.
Our first webinar, “The ABCs of Ts and Cs: An Overview of Terms and Conditions,” took place last month on February 1, and was presented by Christoph Wahner and Michael McDaniel of Countryman and McDaniel, a law firm that exclusively serves the aviation, maritime and transportation industries. The webinar covered the importance of written rules, also known as terms and conditions (Ts and Cs), in contracts between logistics service providers and their customers in protecting both parties. There are many issues during negotiations that need to be considered to ensure who will be responsible for what during the transportation and warehousing of goods, including the scope of the agreement and liability for direct and indirect damages. In addition to making all parties aware of their rights and obligations, Ts and Cs also act as a guide to ensure you accept business on terms with which you can comply. Furthermore, although standard Ts and Cs forms are available for intermediaries, customs brokers, and carriers to utilize, they may not be suitable for addressing your particular operation. It is essential the form properly addresses the scope of the operation. Additionally, contract risk management is key in helping to determine the type of insurance program to secure to respond in the event of liability.
Our next webinar takes place April 19 and covers a risk pervasive throughout all industry sectors, including transportation: cyber hacking and data breaches. “Cyber Risk: It’s Not a Matter of If or When But How You Prepare and Respond”, featuring moderator Maritza Perez and speaker Lauren Gorte, CPCU, Vice President, Financial Lines, Chubb, will cover essential cyber security practices to help prevent and minimize losses and what needs to be done should a breach or other type of cyber attack occur. Annual global cyber crimes costs are estimated to grow from $3 trillion in 2015 to $6 trillion annually by 2021, according to Cybersecurity Ventures, the world’s leading researcher and publisher covering the global cyber economy. This includes costs from damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm. Getting cyber-protected is key for all those in the global supply chain.
We will also be featuring three other webinars this year, including:
- July 20: “Best Practices for Damage Control”
- October 19: “Think Like a Criminal: Schemes Used by Cargo Thieves”
- November 9: “Shippers Contracts Master Service Agreements”
About Roanoke Trade
Roanoke Trade will be sending email announcements to register for the free webinars prior to each event. You can also visit www.roanoketrade.com/resources/webinars/ to register for an upcoming webinar. In addition, please feel free to contact one of our Roanoke Trade professionals at 1-800- ROANOKE (800-762- 6653) for more information about our insurance products and services.