Greenwoods Insurance Brokers Ltd.
Has Launched a new Insurance Product Covering Perishable Foods in Supply Chain of Producers.
Scenario
■ One of our Clients had an air shipment of asparagus bound for Europe which was delayed and arrived four days later than scheduled.
■ The asparagus was exposed to high temperatures during long periods.
■ A survey was conducted and it was found that the asparagus was still in a saleable conditions.
■ However, it was not possible to sell the asparagus for the full market value.
■ With the aim of minimising the loss, a decision was made to sell the asparagus for the best possible price.
How was our Client’s loss recovered?
Our program provides coverage if the proximate cause of loss is delay.
Even though there was no physical loss, the asparagus had lost its full market value and therefore had to be sold for a lower price.
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Our program provides |
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■ Loss of Market ■ Full Breakdown Coverage ■ Delay ■ Power Out |
Our All Risks Coverage is tailored to the needs of each customer and includes:
On a named location basis we can also provide coverage for deterioration or
putrification caused by:
■ Non operation of the controlling devices or the refrigerating plant.
■ The action of escaping refrigerant fumes.
We can also provide transit coverage for parts and machinery appertaining to the
customers business.
