TT Club Pinpoints Risks for Logistics Operators

Posted by Michelle Howard
Wednesday, April 09, 2014
Phillip Emmanuel

The overwhelming majority of insurance claims analysed by TT Club have showed that costly damages and loss, as well as serious bodily injury can be prevented or significantly minimised by sensible and concerted risk management efforts.


Speaking at this week’s TOC Container Supply Chain Asia Conference in Singapore, TT Club’s Phillip Emmanuel drew attention to the wide-range of causes leading to insurance claims by transport and logistics operators.  “While these causes are varied; ranging from theft and poor maintenance of equipment to bad cargo handling and packing and clerical error; they share in common the fact that through good training, the employment of best practices and detailed monitoring and checking procedures, the vast majority are avoidable,” emphasised Emmanuel.
 


As a leading freight transport insurer, TT Club is in a prime position to both identify the causes of risk in the supply chain and to proffer advice on how such issues can be managed to ensure a reduction.  Such action, of course not only saves staff from injury and assets from damage but reduces insurance overheads, maintains operational efficiency by minimising interruptions and delays and keeps customers satisfied.
 


In making the presentation to industry leaders at the Conference Emmanuel, who is TT Club’s Regional Director, Asia-Pacific utilised a claims analysis carried out by the Club on data received over the past seven years.  Including bodily injury, property and liability, over 2,600 claims from transport and logistics operators were analysed.  A low percentage, just 5%, were caused by the weather with a quarter being due to poor maintenance of property or equipment and a large proportion, some 66% down to failures in some facet of the operation.



Emmanuel was at pains to highlight the lessons to be learned from analysis of these operational issues in particular.  “Here we found that over a half of incidents involved the internal systems and processes of the operator and another quarter were due to theft.  These types of claim are most assuredly to be placed in the category of preventable,” he said.
 


Transport and logistics operators are strongly urged to employ effective monitoring and checking procedures, a regular training regime and maintain industry best practice for safety and security.  The conference presentation exemplified a number of situations were cargo which was badly stowed, packed, loaded incorrectly or otherwise poorly handled caused damage and injury.  Examples of miscommunication of information about refrigerated cargo, misdeclaration of hazardous cargo and load weights, inaccurately drafted contracts with sub-contractors and a lack of IT security were all discovered in the analysis.



As a result TT Club can, and frequently does, offer effective advice on loss prevention and risk management as Emmanuel concludes, “Prevention is a combination of safe and physically secure facilities and equipment; rigorous checks and double-checks on paperwork and information flow combined with well-trained, well-motivated employees and trusted partners.”

 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Resolve Maritime Academy's New Wet Trainer Facility

Resolve Maritime Academy says it has started on the construction of a new, two-story wet trainer, larger and more expansive than its original, the L/V Gray Manatee.

Bollinger Fourchon: 13 Years Without a Lost Time Accident

Bollinger Shipyards, Inc. announced that their Bollinger Fourchon, L.L.C. facility has worked 13 years without a lost time accident. Building on a philosophy that starts at the top,

Messer's CEO Norville Announces Retirement

Bill Heller to assume the position as Messer Cuttings Systems’ President and CEO Gary Norville started at Messer Cuttings Systems Inc. in September 1980 selling and installing cutting machines.

Insurance

London Shipping Professionals Weigh in for SPNL Report

The Shipping Professional Network London (SPNL) has  released their full Future London report, an initiative that gathered the views and opinions of London’s young

Update: U.S. to Seize Kurdish Oil from Tanker off Texas

U.S. authorities are set to seize a cargo of oil from Iraqi Kurdistan anchored off the Texas coast after a judge approved a request from Baghdad, raising the stakes

South Korean Teens: Left to Escape Sinking Ferry

Students testify no help came from crew; Coastguard rescuers were passive, only pulling passengers out. Crew in a state of panic, witness says. Six teenagers

P&I Clubs

American P&I Club Rings in Posidonia

While Posidonia is well regarded for its exhibition, it is famous for its parties. The American Club held its traditional party on the evening of Thursday, May 29,

Update: U.S. to Seize Kurdish Oil from Tanker off Texas

U.S. authorities are set to seize a cargo of oil from Iraqi Kurdistan anchored off the Texas coast after a judge approved a request from Baghdad, raising the stakes

South Korean Teens: Left to Escape Sinking Ferry

Students testify no help came from crew; Coastguard rescuers were passive, only pulling passengers out. Crew in a state of panic, witness says. Six teenagers

Logistics

DMR Publish Latest Container Census Report

Drewry Maritime Research (DMR) says it has just published it's latest Container Census report, providing a wealth of information on the container equipment market.

Iraq's Kurds Have Right to Sell Oil While Squeezed by Baghdad

Iraq's Kurdish region has the right to keep selling oil as long as the Baghdad government keeps cutting its budget, the head of the Kurdish parliament's energy committee said on Tuesday,

Diana Containerships Q2 & 1H 2014 Financial Results

Greece-based Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported net income of $0.6 million for the second quarter of 2014,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2435 sec (4 req/sec)