Industries / Trading and logistics
Insurance for trading and logistics
Goods change hands at every port. The cover has to follow them.
Programmes for trading houses, freight forwarders and sourcing companies.
New South Sea for trading and logistics
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- Clients in this sector
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- Lines placed per client, median
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- Premium placed, HKD
01 Exposures
Named risks
Each risk, what it costs when it happens, and how the programme may respond.
Risk changing hands at every port
Incoterms move liability between buyer and seller. Cargo and liability cover must match the terms actually used.
Cargo cover matched to the Incoterms in use, with contingency cover where the buyer insures.
Stock accumulating in third-party warehouses
Peak values at a single warehouse often exceed per-location limits.
Per-location limits set from peak values, declared by site.
Products sold into the United States
North American liability exposure changes the price and wording of the whole casualty programme.
Liability programme priced and worded for North American exposure.
Buyer default on open terms
Receivables are often the largest asset on the balance sheet and the least insured.
Trade credit with confirmed buyer limits, assignable to the lender.
02 The programme
Typical insurance programme
The final structure depends on your contracts, sites and balance sheet. This is where the review starts.
- Marine cargo and stock throughputGoods are most at risk where the paperwork changes hands.Line detail
- Trade creditThe policy is only as good as the credit limits behind it.Line detail
- Public and products liabilityLimits are bought for the worst claim, not the average one.Line detail
- Property and business interruptionThe sum insured is a number you choose. The indemnity period is a decision you make.Line detail
03 How we work
How we work
- 01ReviewStart with the exposures, not last year's schedule.
- 02PrepareThe underwriting file is the submission.
- 03MarketSelected markets, not a circulated list.
- 04BindThe policy is checked against the quote.
- 05ClaimsA named claims contact from the first notice.
“[Client quote, two sentences at most, on a renewal or claim New South Sea handled.]”
Questions
Do we need cargo cover if our buyer insures?
Only if the Incoterms put the risk on them for the whole journey. Contingency cover protects you if their policy does not respond.
Can trade credit cover support our bank facility?
Yes. The policy can be assigned to the lender, and banks often improve advance rates on insured receivables.
How are sanctions handled?
Every trade lane is checked at renewal. Routes touching sanctioned territories are flagged before binding, not after a loss.
Ready when you are
Send us the risk the last broker could not place.
Direct line[enquiries email]Monday to Friday, 9:00 to 18:00 HKT