BROCHURE Stockthroughput 2014 Email
BROCHURE Stockthroughput 2014 Email
THROUGHPUT
SOLUTION IN A SINGLE POLICY
TRANSIT AND STOCK
WHAT IS IT?
STOCK
THROUGHPUT
An “All Risks” Marine Cargo policy, suited to
retailers, manufacturers and traders, covering:
Inland and international transits by any mode
of transportation
Inventory (stock), including raw materials,
work in progress as well as finished goods
THE BENEFITS
Seamless cover, avoiding gaps in cover:
ɞɞ Stock and transit in one single policy
ɞɞ Cover on a “cradle to grave” basis
Simplification of claims settlement:
Referral to one policy in event of a claim
Reduced administration:
ɞɞ Generally no shipment or location
reporting requirements
ɞɞ Premium based on a single rate applied
to sales turnover
Lower premium spend: One single policy rather
than multiple policies
No time restriction how long goods are in store
Competitive stock deductibles: Stock deductibles
generally lower in the cargo market
Beneficial stock limits: Cover on an “any one
location” basis avoiding named location limits
Reduced business interruption exposure
on non-marine placement: Basis of valuation
linked to final sales price
Frees up capacity in the non-marine
markets: Stock/inventory values placed in the
marine market
Flexibility: Insured can choose which exposures
they wish to include under their stock throughput
Control over insurance: By insuring stock/
inventory in third party locations insured determines
scope of cover, based on their requirements
STOCK THROUGHPUT - HOW IT WORKS
Incoming
Local purchase of supplies, factory or distribution Imported purchase of supplies,
raw materials/finished products warehouse raw materials/finished products
Storage
for stock. Avoiding named but not losses resulting from
location limits. One single limit Manufacturing plant/Factory the manufacturing process
for transit
Outgoing
Final distribution
Transit to final customer
Separate Individual
Real Property
Personal Property Ocean Marine
Policies
Inland Transit
Inventory Transit
Business Interruption
Stock Throughput
and Property Option
Integrated Program
Deductible/Retention
FREQUENTLY ASKED QUESTIONS
IS THIS A NEW CONCEPT? WHEN DOES COVER CEASE?
No. This is a tried and tested concept In most cases, cover ceases upon delivery to
which has been placed in the cargo final customer. For some business this may
insurance market for over 25 years. include coverage whilst in showrooms, or in
Stock throughputs are an integral part stores before the final customer purchases
of most insurer placement portfolios. the item.
OUTBOUND SHIPMENTS
Description/type of goods travelling outbound (give % split)
What are the destinations of outbound goods? (give % split)
Valuation basis of outbound goods
Average and maximum shipment values
Packing details
Primary coverage or contingent coverage (give % split)
INVENTORY COVERAGE
Storage locations (complete addresses)
Valuation basis whilst static
Average and maximum monthly inventory exposure
per location
Construction details of the locations
Survey reports may be required
INTERCOMPANY MOVEMENTS
Average and maximum shipment values of these movements
Valuation basis of these shipments
Total annual values exposed
GENERAL
Background details of the insured’s operations
Annual sales turnover
Loss history for transits and inventory for the past five years
from ground up/first dollar
Preferred deductible levels
Rights of recovery against hauliers and other third parties
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13370/08/14