TT Club extends cover throughout the supply chain
9 November 2001
The Through Transport Club, the insurance mutual for ship operators, stevedores, port authorities, transport and logistics companies and freight forwarders world-wide, is planning a major extension of its product range that will meet specialist needs throughout the supply chain more precisely and cost effectively than ever before.
To implement the initiative, Alan Wilkins, a senior Club executive with 17 years experience, has taken on the role of product development and innovation. This follows hot on the recent news of TT Club's initiative to relinquish the right to supplementary calls.
TT Club's CEO, Paul Neagle said: "Alan will generate new products, up-grade established ones and consider possible new market sectors. He is the ideal man to take on this challenge and present the results to the marketplace because of his long and varied experience both with TT and in the shipping and forwarding industry."
Outlining the TT Club's unique role, Alan said: "We have, over many years, provided cover for an enormous range of circumstances. This cover can now be rationalised and packaged to create new and improved products that will serve the full range of industry needs more accurately and comprehensively than previously possible."
The aim is to offer brokers the ability to extend the nature of coverage currently on offer to TT Club members, and to develop insurance products that brokers can utilise in attracting new customers who operate in sectors of the supply chain not automatically associated with the TT Club at present. Under consideration are such fields as charterers' facilities, attractive to cargo-owners and freight forwarders, airport authorities' and other cargo hub operators' cover, as well as products designed for rail freight and logistics services providers.
"In many cases, these products will be tailored to provide swift, cost-effective solutions to coverage requirements traditionally seen as highly complex," said Wilkins, adding, "We shall also be able to fine tune these products as necessary to meet the evolving demands of our members in the future."
Alan will utilise a team including the TT Club's policy, claims, marketing and e-commerce directors and the leader of broker strategy. He will also work directly with brokers to develop new and existing market sectors.ENDSNote to editors:
The TT Club provides liability and equipment insurance to ship operators, stevedores, terminal and depot operators, port authorities, logistics providers, freight forwarders and other transport operators in 150 countries. The TT Club insures 70% of the world's container fleet, over 2000 ports and terminals worldwide as well as 4000+ transport and logistics operations around the globe. The Club's directors are drawn largely from the membership and have significant experience within the transport industry. TT Club is the transport and logistics industry's leading provider of liability and associated insurance and risk management products. To maintain this position the TT Club will continue to maximise its value-adding process with innovative concepts such as TTXpress.com, ThruCargo, TTe-claims and Claimstrac.
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