TT CLUB, CNA MARITIME VENTURE OFFERS CARGO INSURANCE FOR SHIPPERS

TT CLUB, CNA MARITIME VENTURE OFFERS CARGO INSURANCE FOR SHIPPERS    The Through Transport Club and CNA Maritime have entered into a joint venture to provide ThruCargo, through which transport operators can offer cargo insurance to shippers as a value-added product.
   The product will be marketed initially to TT Club's nearly 6,000 members worldwide.
   The TT Club said it has recognized a trend toward one-stop shopping and has sought to broaden its range of services.
   “Transport operators are always recommending to their customers that they take out cargo insurance since goods can easily be damaged during transit and, frequently, it is not clear who is to blame,” said Andrew Kemp, a director of TT Club's management company, TTMS (U.K.). “With ThruCargo, transport operators can not only recommend that their customers take out cargo insurance but they can also offer a competitive quotation whilst earning additional revenues.”
   The project allows cargo insurance to be dealt with simultaneously with other freight forwarding services, which should reduce administration costs for shippers, Kemp said.
   “Even if the customer elects not to insure, he is made even more aware that the freight forwarder not only has a restricted liability, but this may involve the cargo owner in a lengthy legal dispute as to which carrier, if any, is actually responsible,” he said.
   For the transport provider, TT Club premiums will reflect their participation in ThruCargo. For example, if cargo insured through ThruCargo is damaged during transit, in most instances the cargo insurer will not claim against the forwarder and so the forwarders' TT Club claims record will not be affected, he added.
   TT Club will also be offering cargo insurance via its Web site, with a new interactive and automated cargo insurance system recently launched by CNA Maritime, called OMMni.