{"id":765,"date":"2011-05-14T19:37:11","date_gmt":"2011-05-14T17:37:11","guid":{"rendered":"http:\/\/ourblog.greenwoods.org\/?p=765"},"modified":"2011-05-14T19:37:11","modified_gmt":"2011-05-14T17:37:11","slug":"perishable-foods","status":"publish","type":"post","link":"https:\/\/greenwoods.org\/perishable-foods\/","title":{"rendered":"Perishable Foods"},"content":{"rendered":"
\n

<\/a>\"\"<\/a>Greenwoods Insurance Brokers Ltd.<\/a><\/p>\n

Has Launched a new Insurance Product Covering Perishable Foods in Supply Chain of Producers.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

Scenario<\/p>\n

\u25a0\u00a0 One of our Clients had an air shipment of asparagus bound for Europe which was delayed and arrived four days later than scheduled.<\/p>\n

\u25a0\u00a0 The asparagus was exposed to high temperatures during long periods.<\/p>\n

\u25a0\u00a0 A survey was conducted and it was found that the asparagus was still in a saleable conditions.<\/p>\n

\u25a0\u00a0 However, it was not possible to sell the asparagus for the full market value.<\/p>\n

\u25a0\u00a0 With the aim of minimising the loss, a decision was made to sell the asparagus for the best possible price.<\/p>\n

How was our Client’s loss recovered?<\/p>\n

Our program provides coverage if the proximate cause of loss is delay.<\/p>\n

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.<\/p>\n

\n\n\n\n
\n
\n

Our program provides<\/strong><\/em>
\n coverage if the proximate<\/strong><\/em>
\n cause of loss is delay,<\/strong><\/em>
\n even though there is no<\/strong><\/em>
\n physical loss.<\/strong><\/em><\/p>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

\n\n\n\n
\n

\u25a0\u00a0 Loss of Market<\/strong><\/p>\n

\u25a0\u00a0 Full Breakdown Coverage<\/strong><\/p>\n

\u25a0\u00a0 Delay<\/strong><\/p>\n

\u25a0\u00a0 Power Out<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Insurers will pay the difference (Loss of Market) between full market value and the \u00a0price for which the product is ultimately sold.<\/div>\n

Our All Risks Coverage is tailored to the needs of each customer and includes:<\/p>\n<\/div>\n

On a named location basis we can also provide coverage for deterioration or
\nputrification caused by:<\/p>\n

\u25a0\u00a0 Non operation of the controlling devices or the refrigerating plant.<\/p>\n

\u25a0\u00a0 The action of escaping refrigerant fumes.<\/p>\n

We can also provide transit coverage for parts and machinery appertaining to the
\ncustomers business.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Greenwoods Insurance Brokers Ltd.<\/p>\n

Has Launched a new Insurance Product Covering Perishable Foods in Supply Chain of Producers.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/posts\/765"}],"collection":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/comments?post=765"}],"version-history":[{"count":0,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/posts\/765\/revisions"}],"wp:attachment":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/media?parent=765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/categories?post=765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/tags?post=765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}