Safely on the road: cargo insurance as a protection against transport risks
Freight transport by road and rail, by air and sea, has always been an essential part of global economic trade. In the course of globalization and international economic development, transport routes and chains are becoming longer and the risks for transport of cargo more and more complex.
Professional transport and logistics companies as well as industrial and commercial enterprises have to protect themselves against a variety of different risks in order to not jeopardize their existence in case of transport damage:
- Transport accidents or damages to cargo
- Theft
- Fire damage
- Wrong or late delivery
- Piracy, terrorism or war
- Customs seizure
- Strike
A precisely tailored, comprehensive cargo insurance policy reliably protects companies, their employees – and consequently their customers – against these risks and the resulting financial and material losses.
Funk: a specialist for marine insurance since 1879
Cargo insurance is the origin of Funk’s business activities and has not lost its importance more than 140 years after our company was founded. As an experienced and independent insurance broker, we offer cargo insurance solutions tailored to the risks of our customers. Our services for industrial enterprises and trading companies cover the following areas:
- Marine cargo insurance
- Charterer’s liability
- Special insurance for machines, containers, trailers and semi-trailers
Based on an individual risk analysis, we can also integrate protection against special risks such as transport business interruption or penalties into the insurance cover. Our long-standing clients include carriers, transport companies and freight forwarders. For these industries, we design comprehensive insurance solutions that include:
- Carrier’s liability insurance
- Liability insurance for heavy lift operators
- Freight cargo insurance
- Insurance for ports and terminals
- Marine hull insurance
Profit from our professional claim management
A claim often means not only a massive disruption of ongoing business operations, but also significant administrative costs. Funk supports companies actively with its professional claim management. Of course, it is even better if damage does not occur in the first place: Targeted damage prevention as part of an active risk management helps to prevent many damages in advance. With our experts in the areas of risk and claims management, we provide competent support in all questions of loss prevention and work out an individual risk management concept with you.
Learn more about transport risks
New routes for foreign trade
As a recommendation of the International Chamber of Commerce, the Incoterms regulate the rights and obligations of buyers and sellers in foreign trade. Since the beginning of 2020, there are some changes.
Link: https://www.funk-gruppe.de/en/corporate-blog/insurance-management/new-routes-for-foreign-trade/
Cargo theft
Loss statistics from the logistics sector show a significant increase in cargo theft. In most cases there is a direct connection between these fraud offences and the use of internet freight exchanges.
Risks
Vehicle risks
Having a fleet of vehicles is a decisive success factor for many companies. The risks associated with the procurement and operation vary according to the industry, company and size of the fleet.
Liability risks
The potential liability of companies varies depending on the industry or clientele. Nevertheless, all companies have one thing in common: even small mistakes can lead to severe losses.
Risks in M&A processes
The M&A market is booming: in a constantly changing market environment, transactions are the key to the success and future viability of companies. But their risks should not be underestimated.
Services
Funk China
Investing and operating outside of China becomes more and more essential for Chinese companies. The Funk China Division supports its Chinese clients in managing the risks, challenges and chances of worldwide outbound investments.
Insurance + risk management
Funk devises and implements holistic risk and insurance solutions for companies across all industries, sectors and countries. In doing so, our experts do not only secure your individual assets but also create genuine added value for your company.
Employee health + benefits
Employee benefits concepts are a sustainable component of a good corporate policy. Funk provides comprehensive, transparent advice with a view towards the long-term advantages for your company and your employees.
