Travelers explores 6 Ocean Cargo Risks that can disrupt supply chains and offers quick tips and things to consider to help navigate these risks.

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THE RISK LIST: TRAVELERS INSIGHT EDITION
OCEAN CARGO RISKS
THAT CAN DISRUPT
SUPPLY CHAINS
CLICK TO EXPLORE
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Failure to understand and
comply with in-country and
foreign insurance requirements
can cause costly delays.
COMPLIANCE
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1COMPLIANCE
QUICK TIPS
Take these precautions to avoid
compliance issues in unfamiliar places:
1. Ensure your carrier has the ability
to place local policies in foreign
countries.
2. Access qualified local expertise to
help understand local laws in order
to achieve proper compliance.
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Getting claims settled quickly
and fairly in a foreign country
can be challenging without
access to local claim agents.
CLAIMS
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CLAIMS
QUICK TIPS
Seek out these professionals
for smoother sailing during the
claims process:
1. Local claims representatives who
can overcome and work with local
customs and practices.
2. Dedicated agents “on the ground,”
who can speed up the claim
settlement process.
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Substandard facilities and
procedures can increase the
potential for damage and
theft of goods in storage.
FOREIGN
WAREHOUSING
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FOREIGN
WAREHOUSING
QUICK TIPS
You could be in store for a major hassle
without implementing the following
precautions:
1. Work with an insurance company
that has access to local risk control
resources.
2. Seek local expertise to help find the
right location for temporary storage
of your goods.
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Cargo is always susceptible to theft,
with a higher likelihood in areas
such as Mexico, parts of South
America, and Eastern Europe.
THEFT
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Reduce the risk of cargo theft and
hijacking with these precautions:
1. Work with insurance carriers who know
international theft/hijacking hot spots.
2. Consult local experts to better understand
the current local threats.
3. Develop procedures to best position your
cargo to avoid these threats.
4. Leverage technology from reputable
providers who specialize in protecting
transportation risks.
THEFT
QUICK TIPS
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Failure to properly pack and
secure goods for shipment can
result in damage that is easily
preventable.
POOR
PACKAGING
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POOR PACKAGING
QUICK TIPS
Use these tips to help protect shipments:
1. Consult with knowledgeable transportation
service providers when determining
what is required to properly load and
secure cargo.
2. Consider protecting your cargo from both
physical and environmental effects that
are present during intermodal shipment.
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Allowing shipping agents or
storage providers to handle
insurance coverage can result
in terms and deductibles that
don’t fit your needs.
THIRD
PARTY RISKS
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THIRD
PARTY RISKS
QUICK TIPS
Don’t leave it all up to risk. Follow these
proactive procedures when contracting:
1. Control insurance transactions with
a company that tailors coverage to fit
your unique needs.
2. Ensure coverage is “all risk” and as
broad as possible.
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14. FOR MORE INFORMATION
visit travelers.com/business-insurance/
ocean-marine/cargo
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