Cargo insurers to tackle safety of automotive goods

Marine underwriters are seeking to help their clients better manage their exposure to car transporters and vehicles stored in docks, according to International Union of Marine Insurance (IUMI) president, Dieter Berg.

Speaking at the IUMI conference earlier this month, Berg said that there was concern because of the high number of losses. “There have been 10 (such) losses in 13 years,” said  Berg, noting that most of these were in Asia, reported Commercial Risk Europe.

“The solution is about increasing risk management measures and raising the sensitivity of carriers, and the need to have the skilled crews able to take increased risk prevention,” said Berg.

Sven Gerhard, global product leader hull and liabilities at Allianz Global Corporate & Specialty (AGCS), noted that “there seem to be structural issues around stability calculations and cargo weight.” He thought that such losses would be avoidable with better risk management.