Keep abreast of transport regulations – insurer

The best advice to the road transport industry when it comes to insurance is to keep abreast of legislation – because a transporter acting illegally effectively voids his insurance policy. Legalities are a concern, says Associated Marine chief operating officer Mike Brews. “If, for example, a transporter is carrying an overheight container and collides with a bridge, the claim would be repudiated.” And with the many changes to legislation in the roadfreight industry, keeping updated is crucial. There are however often grey areas, says Brews. If, for example, a transporter arrives with the wrong trailer to collect a high cube container and there’s a claim related to this equipment shortfall, the validity of the insurance policy will depend on who was negligent – the client for not advising the transporter or the transporter for ignoring the information provided. But he believes the clearing and forwarding industry has been proactive in keeping its clients informed of the myriad regulations in place – although it remains an issue. Associated Marine’s inland transport insurance policies are three-pronged – covering local goods in transit, the movement of import and export cargoes on the inland leg and insurance of the actual transporter. Import and export volumes have been down 20-25%, says Brews, which means that insurance business in this sector has shrunk by the same percentage. “We have seen casualties on the haulier side because of tight margins – but as the economy starts improving we’ll see new guys coming into market.” The company’s standard marine policy insures cargo for all risks while its stock throughput policy is effectively a cradle-to-grave type option from warehouse to warehouse including any storage aspects.