Opportunity magazine is a niche business-to-business publication that explores various investment opportunities within Southern Africa’s economic sectors. The publication is endorsed by the South African Chamber of Commerce and Industry (SACCI).
LOGISTICS
LOGISTICS _________________ It’s crucial to fully interrogate the value and nature of the goods being transported ________________ The temptation to cut costs and skimp on insurance in a bid to secure business must be avoided at all costs and freight operators need to apply proper risk management and assessment protocols to reduce their exposures in uncertain and challenging economic conditions. A catastrophic loss of cargo that is not correctly insured could spell the end of the business and a raft of crippling liabilities. The necessity of experience “It is here where the skills and sector knowledge of an experienced marine insurance underwriter and professional broker prove invaluable. Ultimately, it is the marine insurance broker who will assess the risks faced by their client, prepare the broking notes in accordance with the client’s needs, ensure compliance with the sector rules and regulations, negotiate, and place the risk with an insurer. It is crucial that the underwriter receives the correct information in the broking notes to correctly assess the risk and provide an informed and correct scope of coverage, limits, conditions and premiums necessary to ensure that in a worst-case scenario, their client can get back up and trade as normal, safeguarding their bottom line and reputation. Great professionalism and expertise are required in this critically important business that underpins the world trade and economy,” concludes Elesh. Credit: No Revisions on Unsplash ABOUT GENERIC MARINE UNDERWRITING MANAGERS GENRIC Marine Underwriting Managers is an Authorised Juristic Representative of GENRIC Insurance Company Limited, an Authorised Financial Services Provider and licensed non-life Insurer. GENRIC Marine has a team of experts who provide the necessary information to allow for informed decisions with regards to the adequacy and type of policy that clients require. GENRIC's Marine Insurance Policies not only provides security and peace of mind, but also with exceptional service and value for money. 52 | www.opportunityonline.co.za
