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http://www.tis-gdv.de/tis_e/bedingungen/trp_faktoren/trp_faktoren.htm
[German version]
Notes and risk factors in cargo insurance
Table of contents
Introduction
Policyholder
Cargo type
Cargo properties
Storage
Packaging
Insurance cover
Miscellaneous
Introduction
This section illustrates the many-faceted nature of risk analysis in cargo insurance.
Risk analysis is one of the marine insurer's core activities and is characterized by the apparent
contradiction between generally applicable, objective factors, on the one hand, and individual
experience and subjective interpretation, on the other. It is this non-standardized pattern of work
which essentially distinguishes this sector of the insurance industry from those insurance sectors
backed by collective agreements.
However, the aim of this section is not to describe the complexities of risk analysis and premium
setting because, precisely for the above-stated reasons, it is almost impossible to make generally
valid, universal statements in this respect.
It is even difficult to decide which items of information are of the essence to the transport insurer.
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Essential risk factors are stated below and one possible way of listing them is outlined. This list is not
exhaustive and selection of the relevant factors in each particular case, which are in line with the
user's information requirements, is determined on a case by case basis.
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Policyholder
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Cargo type
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Cargo properties
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Imports
Exports
Purchases
Shipments
Returns
Own transport
In-house transport
Intermediate transport/storage
Processing transport/storage
Drop shipments
Transport of capital goods
Transport volume / annual turnover (broken down by branch offices / countries)
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Storage
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Packaging
Fit-for-purpose packaging
Packaging regulations, for example
Own or third-party packer
Standardized, tested or standard packaging
Disposable or returnable packaging
Special packaging, e.g. for transporting works of art, heavy-lifts, prototypes
Formation of load units
Inner packaging, for example
Outer packaging:
Packaging materials, for example
Packaging containers, for example
Packaging aids, for example
Marking, handling instructions acc. to DIN 55402 / ISO 780
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Insurance cover
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Expert loss minimization and assessment on site by loss adjuster (determination of loss)
Working up/ (re)utilization of damaged cargo
Repair in country of destination
Return of reparable cargo to manufacturer
Purchase of spare parts
Utilization of damaged or imperfect branded goods
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Liability scheme
Scope of liability
Liability limits
Amount of liability
Ad hoc agreements
Waiver of recourse
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Other
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