Cargo Underwriting in Practice 5

In this part of the series we are focusing on form and detail of cargo transport together with how storage arrangements influence underwriting outcomes.

This sheet contains:


Form and Detail of Transport Framework

Climate and Compliance

Seasonal Access and Natural Hazards

Assessment Tool:
A calendar or map highlighting seasonal weather patterns and natural hazards such as monsoons,
hurricanes, or
ice conditions
affecting transport routes.

Mitigation Strategies:
Recommendations for alternate routes or schedules to avoid high-risk periods.

Specified Routes, Approvals, and Regulations

Compliance Checklist:
A detailed list of required approvals and regulations for different routes and transport modes, including environmental and safety standards.

Route Evaluation Tool:
A system to assess the risk level of specified routes based on historical data and current compliance status.

Etc


Storage Framework for Cargo Underwriting

Planning and Warehousing

Facility Type

Description and Risk Profile:
Outline the different types of storage facilities (e.g., bonded warehouses, refrigerated storage, open yards) and their associated risk levels.

Selection Criteria:
Provide guidelines for choosing the appropriate facility type based on cargo characteristics.

Location

Geographical Risk Assessment:
Tools or criteria for evaluating risks related to the facility’s location, including proximity to high-risk areas for natural disasters, crime rates, and political instability.

Accessibility and Proximity: Considerations for logistical efficiency, including accessibility to transport networks and proximity to ports or transit points.

Size and Efficiency

Capacity Analysis:
Guidelines for assessing whether a facility’s size and layout can accommodate the cargo efficiently, considering space for safe handling and storage.

Operational Efficiency:
Evaluation of the warehouse’s operational capabilities, including turnover rates and handling procedures, to minimize damage and loss.

And much more!