Stock Thru-Put Cover -
An Intelligent Alternative
With the economy in the state that it's in, we are all looking for cost effective ways to look after our clients. One of SWG's newest products is designed with that in mind.
Stock Thru-Put is a combination of ocean and inland cargo (road, truck, rail, air) plus location coverage in a warehouse or manufacturing premises anywhere in the world. This policy is most applicable when the cargo follows a round trip or has multiple stops along the way.
The Stock Thru-Put Policy can provide coverages for the cargo while it is in route and while it is in a warehouse or manufacturing facility. In addition, the Stock Thru-Put can offer coverage for stock in various countries.
Stock Thru-Put Insurance combines in one policy, on an "All Risk" basis, the traditional marine cargo, inland transit and inventory insurance policies usually purchased individually in the marine and property markets.
Benefits:
- Seamless asset protection throughout the company's supply chain, from purchase of raw materials to finished products inventoried for sale.
- One set of underwriters insuring cargo and stock means no potential 'gap' in insurance and more seamless claims settlement.
- Simple, easier administration of risk management - one policy versus several policies - with premium adjustment based on one trading figure such as sales turnover.
- Less capacity is required from property insurers - means fewer insurers are needed on the policy. This is particularly prominent where the insured has locations in CAT exposed territories where capacity is restricted or unavailable.
- CAT deductibles are traditionally less under the Stock Thru-Put than can be achieved by purchasing a Non-Marine Policy, which typically carries 3% deductible on earthquake for example.
- Better pricing is possible overall - one policy versus several policies.
- Selling price valuation on finished stock may reduce the need for business interruption under property insurance policies.
Stock Thru-Put Insurance is ideal for manufacturers who source raw materials or semi finished goods for additional value added manufacturing, then store and distribute the finished goods through multiple warehouses worldwide. Click HERE for an application . Contact information: Graham Smith Phone: 1-866-794-5463 extension 1233 , Fax: 1-877-329-2794 or Email: graham.smith@swgins.com |
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