Case Study

Ascend help bulk shipping movements

Bulk shipments cargo policy arranged

“A quick and clear process that provided us with direct communication with insurers in order that they could understand our business and understand the exposure”

Sector: Transportation

Sub Sector: Marine

The Problem:

The marine cargo sector faces challenging times due to large losses and less appetite from insurers to underwrite bulk shipments.

We were referred to the insured through their bank, as we had previously assisted some mutual clients. Their previous broker had trouble arranging adequate cover on a designed programme that required the client to log every single movement in their log book.

The result of this was that efficiency was at an all-time low due to the slow process or movements. This increased internal workload was having disastrous impacts on business’ ability to trade.

The Solution:

Ascend worked with the insured to understand the full extent of the risk, as it was clear that the cover basis and insurer were not adequate.

Once risk exposure and working practices were discussed, Ascend engaged with a selected specialist marine insurer and arranged a zoom meeting to discuss the detail of these shipments. By quickly engaging in a 3-way relationship, we were able to improve the basis of cover and also save premium expenditure by over 30%.

Our aim is to make our service as efficient and professional as possible so that life is made easy for you. Our clients enjoy market-leading coverage backed up by carefully selected insurers who provide an award-winning claims service.

Consultant: David Baker

David.baker@ascendbroking.co.uk