TT Club, the leading international transport and logistics insurance provider, today announces its financial results for the year ended 31 December 2016, and AM Best affirms its A- (Excellent) rating for the 11th consecutive year.
TT Club, the leading international transport and logistics insurance provider, today announces its financial results for the year ended 31 December 2016, and AM Best affirms its A- (Excellent) rating for the 11th consecutive year.
The recent severing of diplomatic ties with Qatar by several countries (the "Alliance Countries") is having a knock on effect on trade between Qatar and the Alliance Countries, and also an impact on the international carriage of goods to or from Qatar.
The recent action against Qatar by a growing number of countries including the UAE, Saudi Arabia, Egypt and Bahrain on 5th June 2017 is likely to affect a number of TT Club Members as they undertake their normal business operations. The situation appears more likely to affect the TT Club's NVOC, Freight Forwarder, Container line operator and logistics company Members, but Ports and Terminal operator Members could also be impacted in respect of affected cargos passing through their facilities. At this stage it is too early to tell.
While operators do not plan to have incidents, the prudent will seek to apply sound pre-emptive advice to bolster the defence of any potential future claims.
The cost of safety failures, however small the frequency rate, is usually disproportionate; equally, the rewards for safe operations and practices generally accrue significant benefits. Effective near miss reporting is key.
Lawyers can become excited about who has the burden of proof and when it might pass or be discharged. Nevertheless, a convoluted interpretation can give rise to pragmatic judgements.
Incorporation of Standard Trading Conditions is an 'old chestnut', but remains critically important in supply chain operations. Don't let the 'big picture' deal blind you to such protective 'detail'.
Recent caselaw suggests that English courts will lean towards the selecting interpretations on limits of liability that favour a claimant. Unwelcome to the carrier community, so worth considering how best to describe goods on carriage documents.
ICHCA International has opened the 2nd TT Club Innovation in Safety Award and invites submissions from anyone involved in cargo logistics who can show a demonstrable improvement to safety.
There continue to be improvements in efficiency and simplification arising from the SOLAS VGM requirements. Aggregating some of these with initiatives in other aspects of the supply chain could deliver exponential advance in safety.
