Ports, Terminal Logistics

Market Newsletter
COVID-19

Major changes have occurred under the Covid-19 Pandemic in the Shipping and Logistics Trade, so if any additional accident should happen, such incident could be devastating to any Port or Logistics Operation.

All Policies now carries both a Pandemic Exclusion and a Cyber Exclusion, so it’s of utmost importance to take all the necessary precautions against any unfortunate incident.

Prior to the Pandemic, we already seen many shipping lines and logistics operations suffer severely by Cyber Attacks, Maersk being the most known.

We are now seeing the additional effect of the Pandemic severely impacting the Port, Terminal and Logistics Industries, which are affecting the already strained profit margins in the business.

Therefore, it is of very important to have the best suitable insurance cover, not only for your business assets, but also business interruption and any contractual liability bought against your business, all of which could have a devastating effect.

Common Shipping & Logistics IncidentsCommon Ports & Terminals Incidents
Pandemic Outbreak at the operation and closure by government order or key employees reported sick due to Covid-19.Pandemic Outbreak at the operation and closure by government order or key employees reported sick due to Covid-19.
Warehouse Fire / Yard Fire / Chemical Spill.Vessel Impact / Port Blockage
Contractual Liability suit by third party.Ship-shore crane collapse or breakdown
Equipment fire, breakdown, or collisionYard straddle carrier collision
Truck collision or major accidentContractual Liability suit by third party

Acknowledging the transportation industry being the heartbeat of any country, not only for medical and food supplies, but also keep the industries and economy going.

We at HLAP take this very seriously to ensure all our clients are well advised and protected against any incidents that could cause a delay in the supply line.

In this context of global emergency, port stakeholders and workers are on the frontline and play a key role in ensuring that essential goods are loaded and unloaded and that all shipments reach their final destinations.

If you are concerned that you are not properly protected against any unfortunate incident, we urge you to contact your local Insurer or Retail Broker to get in touch with HLAP to review your current insurances and risk management operations within your company, and to take any corrective measures if needed. HLAP have a long-standing experience in the following classes of business to mention a few, with more details available on our company website at www.hlap.com.my

Commercial PortsPumping facilities, substations. tank farms, pipeline operators, 
Container TerminalsMiscellaneous storage facilities, warehousing, tanks, and silos.
Dry Bulk Handling TerminalsTerminal operator’s liability,
Wet Bulk Handling TerminalsFreight forward liability,
Ship Builders & Ship repairersLogistics operator’s liability, 
Railroad & Transport OperatorsWarehousemen & Pipeline operator’s legal liability
Pipeline Operators 
Warehouse Operators

Please direct any enquiries to: niels@hlap.com.my.