With “just-in-time” delivery becoming more crucial, there is no room for delay and disruption to supply chains.
Trade Disruption Insurance (TDI) has been developed to fill the coverage gap and provide protection against financial losses throughout the supply chain.
Where traditional Cargo policies will only cover losses resulting from physical damage.
TDI insurance will cover loss of profits and extra expenses/costs caused by physical or political perils.
How it works
A clothing distributor is getting ready for the sales season when a major hurricane hits and closes a port through which the goods are normally shipped. In order to get the goods delivered in time the distributor is forced to re-route the goods through other ports and via airfreight, which results in the distributor incurring additional expenses.
Trade Disruption Insurance will respond to the extra shipping costs and any loss of revenue resulting from any delay
Industries at Risk
- Manufacturers
- Distributors Retailers
- Perishables
- Food Industries
Types of Indemnity
- Loss of Profit
- Relocation Costs
- Extra Expenses
- Penalties
- Insured Perils
- Trade Embargos
- Border Closures
- Terrorism, War, Strikes, Civil Commotion
- Confiscation or nationalization
- Emergency closures to supply routes
- Insolvency
For further information please visit our site: www.greenwoods.org
