for each project
Risk Management, in practise the process of evaluating risks, or, for companies that work in international marketplaces, identifying the external factors that could potentially reduce the effectiveness and efficiency in the production process that result in damage or loss of goods during shipping. These are thankfully infrequent occurrences, but it is possible to identify the appropriate corrective measures that minimize the impact of these potential events to businesses.
Appropriate insurance coverage should be a priority for international shipments. This should be considered to all effects, as the starting point for the reduction of associated risks, which are then technically transferred to the insurance company.
The risks goods may be subject to must be identified by looking at various factors. Firstly, the value of the goods shipped together with the type of commodity. For example, goods that need to be shipped under strict temperature controlled conditions, would not be subject to the same risks as a piece of machinery, which is turn is not subject to the same risks to an item of haute couture or a glass ampoule that contains a luxurious scent. The second factor to be taken into account is the actual mode of transport; for example, it would be unlikely that truck-trailer transport would suffer damage from sea water, nor would the worst case scenario be a mechanical breakdown. In addition, routing and transit times also need to be taken in account; for example, goods that are shipped via air freight on a 3-4 hour short / medium haul flight, would be subject to a different level of mechanical stress when compared to a sea-freight container on the water for 30-40 days, that may also be subject to two trans-shipments.
Savitransport works closely with a team of experts to pinpoint the most suitable insurance solutions for each individual shipment. The parameters, as listed above, are analysed together with the clients’ exact requirements, also ensuring that any proposed insurance coverage is in line with current norms in both the country of origin and destination. This is an aspect not to be underestimated given the peculiarities and limitations imposed for countries that may in some way be sanctioned or where there is a high War Risk, as well as conforming to the terms of sale for the shipment.
Our team works with highly experienced brokers from the most important insurance companies, whose global rankings are consistently amongst the best. Operative procedures are integrated and shared by a network of offices world-wide, with the aim of offering strategic solutions and protection covering any type of project.