Chemical Industry Marine Cargo Insurance
Marsh serves a significant number of the top 100 companies in the chemicals industry with revenue in excess of US$1 billion. The scope of our chemicals industry clients includes—but is not limited to—specialty chemicals, petrochemicals, bulk (dry, liquid, gas) and packaged products, industrial, and household and personal care companies.
The Marine Practice of Marsh—in collaboration with Marsh’s Chemicals Practice—aligns our clients in the chemicals industry with knowledgeable insurance market leaders in the placement and servicing of innovative global cargo insurance programs. Marsh is able to create solutions combining insurance and risk transfer, administrative streamlining, and claims-service management—and then to tailor these solutions to the specific risk profile of each client in this rapidly changing industry.
The Marine Practice delivers worldwide professionalism and expertise in the placement of cargo insurance programs for large and mid-size chemicals companies. The strength of Marsh’s global network and insurance-market relationships allows us to deliver quality solutions that focus on current industry risk issues.
Wide Range of Coverage Solutions
Marsh's diverse range of coverage Solutions for chemicals industry clients addresses:
- Flexible valuation (with an element of business interruption—selling price valuation).
- Control of damaged goods and/or fear of loss.
- Temperature-controlled shipment conditions that may be extended to include coverage for interruption of third-party off-premises services and human error (such as incorrect temperature setting).
- Brands, labels, and trademarks.
- Voyage frustration, extra expense.
- Unpaid vendor (guarantee of collectibility).
- Inland transit.
- Pollution legal liability.
- Cargo owner legal liability.
- Marine consequential loss and/or marine business interruption.
- Processing coverage.
Placement of stock-throughput coverage: Stock-throughput protection is designed to provide competitive global total cost of risk (TCOR) while freeing up property capacity and creating additional capacity within the marine insurance market. The advantage of this type of marine insurance placement over a traditional property insurance placement includes the availability of additional aggregate capacity and lower deductibles for catastrophe perils.
Marshcargo.com: Our complete online policy management system is always available to you at www.marshcargo.com.
Claims expertise: We offer dedicated claims management services before, during, and after a loss, as well as during the contract review stage prior to commencement of shipments.
Benchmarking: Our industry-specific client benchmarking data is available on a global basis.
RECLAIM: RECLAIM Consulting Services—a trading name of Marsh Ltd.—has the specialist skills and expertise to provide a broad range of claims-adjusting, claims management, and recovery services, all of which have the potential to help clients reduce their bottom line financial losses.
Loss control: The professionals of Marsh coordinate global loss-control resources.
Knowledge sharing: We facilitate client roundtables, advisory councils, and seminars.
Team approach: Marsh not only promotes a team-based approach to account servicing, but also offers a distinctively diverse knowledge base across industries through more than 200 global marine cargo brokers.