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Ivan Stojanovic, Head of Risk Estimation and Product Development Department at Wiener Stadtische Osiguranje – A reliable partner to all companies in the transport and logistics chain
Source: eKapija
Wednesday, 27.11.2019.
15:35
Wednesday, 27.11.2019.
15:35
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(Ivan Stojanovic)Insurance is an inevitable step in the whole transport and logistics chain. An adequate insurance policy is a security for all participants in the chain, so experts advise all users to get informed about their needs, but also the risks covered by a certain type of insurance.
Wiener Stadtische osiguranje offers a whole range of products in the field of transport and logistics to its users. As Ivan Stojanovic, the Head of Risk Estimation and Product Development Department at the company, points out, each policy is prepared in line with the client's needs. He also warns that the two main products in transport insurance – the transporter's liability insurance and the transported goods insurance are often understood to be the same. However, as he says, it is important to point out the differences between them.
eKapija: What are the needs for insurance in a transport and logistics chain?
– The need for insurance depends on the phase of the transport process and the form of transport. Organizers of the transport process, transporters and users all have different insurance needs.
The transporter needs to insure the means of transport, the liability for the damage done to third parties through the use of means of transport and the liability for the damage done to the transported goods.
On the other hand, the owner of the transported goods needs to insure the goods themselves, whereas the organizer of the transporting process (forwarder) needs to get forwarder's liability insurance etc.
eKapija: Which products does Wiener Stadtische offer to companies in transport and logistics?
– Wiener Stadtische Osiguranje can say with pride that its expert employees and its range of products can meet all the demands by clients that occur in a transportation process. Depending on the form of transport, we offer several types of insurance. First of all, there's the casco insurance of motor vehicles, aircraft, vessels and rail vehicles. This type of insurance entails insurance of means of transport if the damage occurs through the realization of a risk defined in the insurance contract, regardless of who is responsible for the damage.
Furthermore, we offer liability insurance for owners of motor vehicles, aircraft and vessels for the damage done to third parties. These are the types of mandatory insurance proscribed by the Law on Mandatory Insurance in Traffic and they cover material and non-material damage done to third parties through the use of means of transport.
We offer transporter's liability insurance for the damage done to the goods being transported and insurance of transported goods. Goods insurance allows the goods to be insured from the risk which accompany the transportation process, such as fire, explosions, traffic accidents, manipulation of goods etc. The goods can be additionally insured from specific risks which depend on the characteristics of the goods. For example, the contracts can define risks of hardening, malfunctioning, spilling, leaking and similar damage.
eKapija: What do companies need to know when it comes to insuring the goods in transport and insuring the transporter's liability? Does one entail the other?
– What often happens in practice is that these types of insurance are understood to be the same. In other words, forwarders and owners of goods believe that, if the transporter submits the transporter's liability insurance policy, the goods are insured regardless of what happens to it during the transportation process.
This interpretation is not correct and the difference between these types of insurance needs to be understood in order to avoid misunderstandings between the transporter and the organizer of the transport, that is, the persons which have the right of the handling of goods at the moment the damage occurs.
Depending on the type of transport, the transporter's responsibility is defined by international conventions which define their rights and obligations. The CMR Convention defines the road transport of goods, the Hague-Visby Rules defined the transporter's liability for the transport of goods by sea, COTIF defines the rules for rail transport and the Warsaw Convention defines the rules for the transport of goods by air.
Under said conventions, the transporter is responsible for a full or partial loss of goods and the damage done in the period between the taking of the goods and the delivery. However, even when the transporter is responsible for the damage or the loss of goods, they are not always obliged to compensate for the full value of the goods, as all these conventions define limitations to the transporter's liability. Under CMR, the transporter is responsible for amounts up to the value of the goods at the starting point of the transport, but no more than 8.33 SDR per kg of lost or damaged goods (SDR is the IMF's unit), for sea transport, it's 2 SDR per kilogram etc.
On the other hand, goods insurance in transport allows the owner to have the goods insured for their full value.
In case of damage, the transporter's liability insurance policy is activated only if the transporter is responsible for the damage, whereas the transported good insurance policy is activated in case one of the insured risks occurs, regardless of whether the transporter is responsible for the damage.
eKapija: In your experience, which services have been proven to be the most popular among transport, logistics and forwarding companies?
– It all depends on the activity. When it comes to transporters, the largest number of requests come from road transporters, as this form of transport is the most present here, whereas forwarders mostly look for the insurance of transported goods.
eKapija: What are your company's further plans when it comes to transport insurance?
– In the upcoming period, Wiener Stadtische Osiguranje will strive to additionally improve its services and meet all the insurance needs of the participants in the transport and logistics process. Through a varied range of products and quality insurance coverage, we want to be a reliable partner to our clients, helping them upgrade their operations and be competitive in the transport and logistics market.
Wiener Stadtische osiguranje offers a whole range of products in the field of transport and logistics to its users. As Ivan Stojanovic, the Head of Risk Estimation and Product Development Department at the company, points out, each policy is prepared in line with the client's needs. He also warns that the two main products in transport insurance – the transporter's liability insurance and the transported goods insurance are often understood to be the same. However, as he says, it is important to point out the differences between them.
eKapija: What are the needs for insurance in a transport and logistics chain?
– The need for insurance depends on the phase of the transport process and the form of transport. Organizers of the transport process, transporters and users all have different insurance needs.
The transporter needs to insure the means of transport, the liability for the damage done to third parties through the use of means of transport and the liability for the damage done to the transported goods.
On the other hand, the owner of the transported goods needs to insure the goods themselves, whereas the organizer of the transporting process (forwarder) needs to get forwarder's liability insurance etc.
eKapija: Which products does Wiener Stadtische offer to companies in transport and logistics?
– Wiener Stadtische Osiguranje can say with pride that its expert employees and its range of products can meet all the demands by clients that occur in a transportation process. Depending on the form of transport, we offer several types of insurance. First of all, there's the casco insurance of motor vehicles, aircraft, vessels and rail vehicles. This type of insurance entails insurance of means of transport if the damage occurs through the realization of a risk defined in the insurance contract, regardless of who is responsible for the damage.
Furthermore, we offer liability insurance for owners of motor vehicles, aircraft and vessels for the damage done to third parties. These are the types of mandatory insurance proscribed by the Law on Mandatory Insurance in Traffic and they cover material and non-material damage done to third parties through the use of means of transport.
We offer transporter's liability insurance for the damage done to the goods being transported and insurance of transported goods. Goods insurance allows the goods to be insured from the risk which accompany the transportation process, such as fire, explosions, traffic accidents, manipulation of goods etc. The goods can be additionally insured from specific risks which depend on the characteristics of the goods. For example, the contracts can define risks of hardening, malfunctioning, spilling, leaking and similar damage.
eKapija: What do companies need to know when it comes to insuring the goods in transport and insuring the transporter's liability? Does one entail the other?
– What often happens in practice is that these types of insurance are understood to be the same. In other words, forwarders and owners of goods believe that, if the transporter submits the transporter's liability insurance policy, the goods are insured regardless of what happens to it during the transportation process.
This interpretation is not correct and the difference between these types of insurance needs to be understood in order to avoid misunderstandings between the transporter and the organizer of the transport, that is, the persons which have the right of the handling of goods at the moment the damage occurs.
Depending on the type of transport, the transporter's responsibility is defined by international conventions which define their rights and obligations. The CMR Convention defines the road transport of goods, the Hague-Visby Rules defined the transporter's liability for the transport of goods by sea, COTIF defines the rules for rail transport and the Warsaw Convention defines the rules for the transport of goods by air.
Under said conventions, the transporter is responsible for a full or partial loss of goods and the damage done in the period between the taking of the goods and the delivery. However, even when the transporter is responsible for the damage or the loss of goods, they are not always obliged to compensate for the full value of the goods, as all these conventions define limitations to the transporter's liability. Under CMR, the transporter is responsible for amounts up to the value of the goods at the starting point of the transport, but no more than 8.33 SDR per kg of lost or damaged goods (SDR is the IMF's unit), for sea transport, it's 2 SDR per kilogram etc.
On the other hand, goods insurance in transport allows the owner to have the goods insured for their full value.
In case of damage, the transporter's liability insurance policy is activated only if the transporter is responsible for the damage, whereas the transported good insurance policy is activated in case one of the insured risks occurs, regardless of whether the transporter is responsible for the damage.
eKapija: In your experience, which services have been proven to be the most popular among transport, logistics and forwarding companies?
– It all depends on the activity. When it comes to transporters, the largest number of requests come from road transporters, as this form of transport is the most present here, whereas forwarders mostly look for the insurance of transported goods.
eKapija: What are your company's further plans when it comes to transport insurance?
– In the upcoming period, Wiener Stadtische Osiguranje will strive to additionally improve its services and meet all the insurance needs of the participants in the transport and logistics process. Through a varied range of products and quality insurance coverage, we want to be a reliable partner to our clients, helping them upgrade their operations and be competitive in the transport and logistics market.
Companies:
Wiener Städtische osiguranje a.d.o. Beograd
Tags:
Wiener Stadtische osiguranje
Ivan Stojanovic
insurance in transport
casco insurance of motor vehicles
insurance of aircraft
insurance of vessels
insurance of rail vehicles
insuring the transporters liability
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