The TT Club has developed an initiative, known as TT Club Forwarders, to provide cargo insurance to freight forwarders and logistics providers. The product draws on the entity's extensive international underwriting and claims service, the group said. The goal was to craft a new online service to ensure secure cover for freight companies trading under particular market conditions, according to Graham Hooper, TT Club's senior underwriter. Such entities frequently are involved in moving diverse commodities and volumes in multiple modes across geographies. The unpredictable nature of those situations often makes it difficult to secure comprehensive insurance cover, he said. The formation of TT Club Forwarders arose from the need to simplify the process of accepting a given risk in those circumstances. TT Club Forwarders allows brokers to apply on behalf of their clients for access to the system. Once registration has been completed, the forwarder will have the ability to request cover for a specific move online. At the same time, it gains access to instant cargo insurance quotes, attachment of cover and document production. The system is supported by an integrated accounts package and worldwide claims service, TT Club said.

Read Full Article