Insurance must adapt to industry’s changing needs

Crime remains a challenge for insurance companies especially in Gauteng. Susan Bester, marine marketing manager of Prestmarine International, says you can never under-estimate the importance of arranging adequate insurance cover. “Gauteng moves at a very fast pace compared to the other provinces and it is wise to be cautious and not to be rushed into transactions and contracts before having read them carefully.” She says often agents find themselves under pressure to enter into a transport contract and only later realise that it actually contravenes their standard trading conditions as well as terms and conditions of their insurance policies. This can result in major problems in the event of a claim if your insurer was unaware of these agreements. “Hijackings and theft of commodities such as IT and communication equipment, clothing and foodstuffs remain very high on the agenda,” she said. Experts agree that most hijackings of large cargo occur within a 200km radius of Gauteng and criminals are becoming more fearless and extremely creative when it comes to skilful pilferage. “In the present economic circumstances criminals focus strongly on employees to provide inside information to assist in fraudulent activities,” says Bester. “Continuous labour disputes and strikes also influence the general supply chain, resulting in unnecessary delays and even malicious damage.” According to Bester constant communication and trust between client and insurer is paramount. “A huge part of our client base consists of freight operators and we offer facilities that add value to the service they provide to importers and exporters.” She says as more clearing and forwarding agents are now combining picking, packing and storage into their service packages, Prestmarine has also adjusted its insurance products. “We have a well-established commercial department and are therefore in a position to offer our clients a ‘cradle to grave’ policy which includes the international movement of cargo, warehousing and all operations that go with it – as Susan Bester ... ‘Constant communication and trust between client and insurer is paramount.’ well as distribution.”