No more one size-fits-all cover

Personalised marine cover is fast becoming a trend, according to accredited trainer Alexander Robertson. “Ensuring your insurance cover is written to take care of your particular type of product and your particular type of business is becoming far more prevalent than ever before,” he told FTW. Owner of Robertson’s Cargo Consultancy, he said this would ultimately impact positively on the movement of cargo. “Marine insurance should not be an afterthought or purchased just in case. It has to be part and parcel of the movement of cargo from the start.” According to Robertson, personalising insurance allows a shipper to cover his goods according to his circumstances. “A retailer could, for example, ensure his stock from the point of departure right through to the point of sale to the customer,” he said. In the light of changing weather patterns, the introduction of ultra-large vessels and ongoing economic uncertainty, maritime risk has several new dimensions to contend with. “It will become increasingly important to not just have cover but cover that is tailor-made for a specific business and product type,” said Robertson.