Using special insurance solutions for insurance against specific transport risks
Those parties involved in the movement of goods, manufacturers, freight forwarders
or warehousing companies, are confronted with a range of risks. One example: a manufacturer
of electronic components can’t comply with a delivery deadline that they committed
to because an insured consignment has been damaged in transit. Contractual penalties
are frequently incorporated in a contract for circumstances such as these. These penalties
can be covered through an insurance policy.
To cover specific risks in the transportation business, HDI provides a range of
special insurance solutions. Cover can supplement HDI’s marine/cargo insurance
or be provided separately. Specifically these include marine consequential loss insurance:
hull insurance, exhibition insurance, carrier liability insurance and travel insurance.
Ships, trains and trams can be damaged or wrecked. Owners can insure against these risks by taking out HDI hull insurance policies for ocean-going ships, barges, ships under construction, pleasure craft as well as trains and trams.
Trade fair exhibitors can insure their exhibits, booth facilities and the personal effects of booth personnel. The cover provided by HDI exhibition insurance includes all logistics as well as loading and unloading procedures and applies for the duration of a trade fair.
Carriers, freight forwarders and warehousing companies transport and store goods on behalf of third parties. Under the delivery and payment terms specified in the freight, carrier or warehousing contracts, they are liable for damage and related costs incurred. These liability risks can be covered by HDI carrier’s liability insurance. Cover includes statutory or contractual liability arising from shipping contracts.
Illnesses, accidents and other unexpected events can rapidly result in a planned trip having to be cancelled or interrupted. The necessary cancellation or abandonment of the trip causes costs to be incurred. Medical treatment costs may also be incurred abroad. Tour operators and industrial clients can cover these risks to employees and travellers during their business or holiday trips through HDI travel insurance.
HDI provides advice and training on a range of practical transportation topics, such as international delivery terms (Incoterms®) and securing cargoes.