Contingent Cargo Insurance
Since 1956, RJ Ahmann Company has been a premier provider of insurance for transportation and freight businesses nationwide.
Who should have contingent cargo coverage?
Whether you arrange for the transportation of goods across the nation or around the globe, there’s always a chance the product won’t make it to its destination or may be damaged in transit. Thefts, accidents and sinking ships can wreak havoc to your bottom line. To protect your profit from these losses, a customized cargo insurance program is essential. If you own, manage or operate any of the businesses in the segments below, you should consider speaking to a commercial cargo insurance expert:
- Transportation brokers
- Freight forwarders
- Importers and exporters
- Logistics providers
Contingent cargo insurance has two objectives:
- It protects your assets and your business reputation.
- It enhances and protects your relationship with customers.
Here are two examples of how contingent cargo insurance saved companies from experiencing significant losses:
- A garment broker arranged for a carrier to transport a load of apparel. The carrier drove the truckload of clothing to the terminal to hand off the shipment to a long-haul trucker. His truck was temporarily left unattended and the entire load of clothing was stolen. Like many policies, the trucker’s policy excluded garments and apparel. The broker’s contingent cargo insurer paid the claim at a cost of $235,000.
- A carrier picked up load of frozen beef, and while in transit was involved in an accident. The truck insurer erroneously denied the claim. RJ Ahmann intervened on the client’s behalf and the claim was accepted and paid, saving the broker $99,000.
Why is contingent cargo insurance important?
Whether your products travel by truck, rail, air or sea, cargo insurance protects you from a variety of potential losses. With more than 20 years in the logistics industry, RJ Ahmann has helped hundreds of businesses thrive with tailored cargo protection. Our services go beyond just issuing a policy. Once, we had a customer come to us with issues regarding acceptability with insurance. We restructured his program so it protected his customers better and, as a result, enabled his business to grow significantly. For two decades, we have been analyzing the insurance available to the logistics industry and have identified shortcomings in a number of programs. We designed our cargo insurance program to provide reliable, comprehensive coverage.
How does international cargo insurance work?
Many property policies don’t cover global transactions. That’s where international cargo insurance steps in. There are two basic types of cargo coverage. Firstly, for those who deal with overseas shipments, there is the open cargo policy, which insures all shipments that fall within defined parameters, such as value, shipping rates and the nature of the cargo. Second is a voyage policy. A voyage policy protects you during a specific shipment. Both provide insurance from the time the cargo leaves the seller until it reaches the buyer. For those dealing within dangerous zones of the world, you can add war risk coverage, which protects your goods in areas of conflict.
Could your business survive a significant loss?
Imagine you arrange a big shipment of goods for an important customer. Now, imagine the train carrying their goods derails. Would the shipment be covered? Would your relationship with your customer be protected? How about the time, stress and legal fees? Most businesses have a tough time bouncing back from these types of losses, unless they have solid contingent cargo coverage.
A smart solution
If you need contingent cargo insurance coverage, or if you just want to learn more, RJ Ahmann can help. With more than 20 years in the logistics industry, our Minneapolis, Minnesota agency has helped hundreds of businesses in this segment. We earned a stellar reputation in the industry and recognition from many major shippers who prefer our program. Many of our clients have been with us for more than 20 years. In fact, our cargo customer retention rate exceeds 98 percent!
To ensure that you get the strongest insurance protection at the best rates, we:
- Provide comprehensive contingent cargo insurance for transportation brokers and freight forwarders
- Are affiliated with leading contingent cargo insurers, including Travelers, Hanover Insurance Company and CNA
- Act as your claim advocates and take on a consulting role for when there is a claim
- Offer defense and coverage for liability exposures regarding truck accidents and lawsuits
- Offer a suite of cargo-related risk management tools that include contract analysis, cargo loss prevention techniques and claim recovery techniques
- Offer additional insurance solutions, including commercial vehicle insurance and worker’s compensation insurance
- Provide you with unparalleled expertise. Our highly qualified cargo program director carries CIC and CRM designations and is on the board of directors of the Transportation Intermediaries Association (TIA). He is frequently invited to speak about cargo risk management issues by the Transportation Logistics Council, TIA, the Inland Marine Underwriters Association and the Transport Lawyers Association. His articles have been published in industry journals, such as “Forward America,” “Logistics Journal” and “Logistics Weekly.”
Ready to learn more? RJ Ahmann is ready to help with cargo insurance solutions.