Alesco’s Cargo team has the experience and expertise to build individual programs that specifically wrap around each client’s marine cargo requirements and further dovetail with other lines of business insurance. We will look to find the solution for even the most challenging cargo scenarios, be it complex supply chains with multiple valuations, through to specific storage requirements.
Stock throughput insurance covers raw materials from the time the shipment leaves the supplier’s premises, either in the country of origin of the client or from overseas, work in progress, storage of stock and the subsequent transit of finished goods to local and/or overseas buyers. Inland marine insurance can also cover storage at distribution warehouses, either in the country of manufacture or at the country of destination.
We offer comprehensive cover for the insured’s interest, being all-risks of physical loss and/or damage whilst anywhere in the world, in the course of transit, including stock and other related ‘property’ risks.
We can provide seamless asset protection throughout a company’s supply chain, from purchase of raw materials to finished products and is ideal for manufacturers who source raw materials or semi-finished goods for additional value added manufacturing, then store and distribute the finished goods through multiple warehouses worldwide.
Additional insurance cover for niche markets can include:
• Spoilage and deterioration of goods reasonably attributable to temperature variation and contamination
• Leakage, howsoever arising
• Goods whilst undergoing process, provided loss and/or damage is not caused by the process itself
• Bespoke basis of valuation/loss settlements especially tailored, taking into account the needs of the wine and/or beverage industry as well as the specific requirements of each individual insured
• Spontaneous combustion
We have the capabilities to offer a wide range of specialty marine insurance products and risk management solutions for brokers that work with clients across all major maritime operations, globally.
Our diverse and extensive hull portfolio sees us manage the risks for many of the world’s largest fleets of bulk carriers, tankers and containerships, as well as offshore, specialist watercraft and passenger vessel operations.
Our reach and knowledge extends across the marine sector as we also provide bespoke insurance cover for marine construction risks across the globe. With access to specialist marine insurers and underwriters, our Hull and Machinery team has experience in placing some of the largest and most complex shipbuilding programs in the market.
Our products include:
• Hull and Machinery
• Increased Value
• War Risks
• Loss of Hire/Business Interruption
• Kidnap and Ransom Cover
• Mortgagees’ Interest
• Shipyard Construction and Conversion Risks
With ports and terminals continuing to diversify their activities to meet both commercial and consumer demands across the globe, marine liability risks are changing.
This complex and changing risk landscape of a port means it truly does count to have a risk partner that specializes in this type of insurance. Our Marine team has experience providing bespoke marine insurance and risk management solutions that meet current and emerging risk profiles of a port, terminal or marina.
Our specialist team work with brokers to help their port and terminal clients throughout the project life cycle, by offering solutions from financing and planning, through to the construction and into the operational phase.
• Loss of or damage to cargo in the client’s care custody and control
• Third-party bodily injury and property damage
• Loss of or damage to third-party vessels
• Wreck Removal
• Professional indemnity for negligent acts or omissions of staff, breach of warranty
Fines and duties arising from an unintentional breach of any regulation, legal or statutory provision
Property and Handling Equipment Risks:
• Damage to buildings, sea walls, berths or piers arising out of natural disasters or vessel impact
• Loss of or damage to handling equipment, such as gantry cranes, reach stackers, etc.
• Natural catastrophe events, such as earthquake, windstorm or flooding often result in significant damage to property and handling equipment
Revenue Stream Risks/Business Interruption:
• Blockage of ports and channels prohibiting normal operation
• Damage to cargo handling equipment prohibiting normal operation
• Strikes or other non-physical damage events prohibiting normal operation