Proactive approach can help reduce premiums

RISK MANAGEMENT is a tool that can assist the insured in reducing premiums, says Amusa's chairman Dave Keeling. "A pro-active insured can reduce risk dramatically, take risk away from the insurer and benefit from a reduced premium. It should be noted however that risk management may also be imposed by insurers on an insured as certain risks are quite simply uninsurable without an efficient risk management programme," he said. Large volume or high value cargo movements are often monitored by the appointment of an independent risk manager/surveyor who is charged with the duty of ensuring that all parties in the transport chain perform their tasks as they should. Attendance at discharge and delivery by such individuals reduces the risk of damage and/or theft. But Keeling points out that theft and hijack recoveries are often inhibited by late reporting of losses. "Horse and trailers have been known to be re-registered within a very short space of time and are then "legitimately" moved over the border. "It is imperative to report losses immediately to give tracing agents any chance of recovering stolen cargoes. Furthermore all thefts should be reported to the relevant police authorities and case numbers obtained. Not only will such reporting ensure that the correct authorities are involved in the tracking of cargo, but the dramatic increase in case numbers will indicate to the authorities the gravity of the situation and more resources should then be made available to combat the problem."