05 September 2024

The end-to-end process from raw materials to final product involves many steps, not only in terms of manufacturing but also for transport and logistics. The goods will often be moved along global supply chains, using various modes of transport as well as in-transit and retail storage. This process involves potential risks such as natural catastrophes, misappropriation, or security concerns. A stock throughput (STP) policy provides broader protection against such perils and offers coverage for products in storage and in transit.

Max Liu, Underwriter, Marine at Munich Re Beijing Branch, discusses the differences between cargo and STP policies with a particular focus on underwriting the property part of STP, e.g. by looking at nat cat and non-nat cat risks which are crucial to assess.

Tiina Ruhlandt, Managing Director at EIMC, an IUMI Professional Partner, then considers important aspects of pre-loss risk management to identify potential gaps or vulnerabilities in the marine and STP planning. Tiina also shares case studies and claims examples to provide lessons learnt.

 

Please click here to download the presentation Part 1 and Part 2 and to access the recording.