1 / 11

Ocean Cargo - Risky Busine$$ Aaron Howes Vice President – Risk Management and Insurance

Ocean Cargo - Risky Busine$$ Aaron Howes Vice President – Risk Management and Insurance. Agenda. Who is Expeditors Cargo Insurance Brokers (ECIB) Trends in the Industry Cargo Values Why Steamship lines don’t want high value pharma Questions. Expeditors Cargo Insurance Brokers (ECIB).

quinta
Download Presentation

Ocean Cargo - Risky Busine$$ Aaron Howes Vice President – Risk Management and Insurance

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Ocean Cargo - Risky Busine$$Aaron HowesVice President – Risk Management and Insurance

  2. Agenda Who is Expeditors Cargo Insurance Brokers (ECIB) Trends in the Industry Cargo Values Why Steamship lines don’t want high value pharma Questions

  3. Expeditors Cargo Insurance Brokers (ECIB) Wholly owned subsidiary of Expeditors International of Washington Inc. Full Service Cargo Insurance Broker Specialists in Cargo claims management Loss control and risk assessment analysis

  4. Trend - Issue Shippers / Manufactures trying to reduce freight costs Converting Air freight to Ocean Freight Shipments often become larger (consolidated) Temperature controlled – reefer Longer transit times Steamship lines become less willing to move high value Logistics / Risk Management look for a solution

  5. Crux of the Problem • 40 Ft Furniture • 40 Ft Xbox 360 • 40 Ft Reefer - Pharma • @ 25K - $40K • @ $1.2M • @ 10M - $50M • Risk versus Reward • total loss on reefer • Sensitive equipment

  6. Other issues You have insurance $40M loss – yes you will get paid Insurance company not happy – want their money back Get it from the SSL (subrogation) or from you increase premiums $40M loss – what does that do to your production ? Customers ? BIG PICTURE - more than just saving freight costs

  7. Questions?

More Related