Why AXIS
Advanced Underwriting: The team has sophisticated underwriting capabilities and a broad appetite.
Depth of knowledge: From everyday Cargo transportation to more specialized risks, our skilled team has the capabilities to create solutions for a wide range of industry sectors.
In-house and dedicated Marine Claims team: The team takes a pragmatic approach to claims and will work with you to find solutions and overcome problems.
Appetite
Oil, Gas and Chemicals:
- Guaranteed outturn for shipments
- Pipeline movements
- Cavern storage
Construction and Building Materials:
- Sanction/compliance screening
- Assembly, integration and testing in relation to satellite pre-launch:
- Multi-year policy period
Defense:
- Delay in start-up/consequential loss
- Provision of risk management
- Multi-year policy period
Metals and Mining:
- Stockpiles at both mine site and port
- Theft
- Transit by barge
Consumer Products:
- Selling price vs cost price basis of valuation
- Brands clause and its impact in the event of a loss
- Possible theft attractiveness
Apparel:
- Seasonal merchantability
- Matched pairs and sets
- Selling price vs cost price basis of valuation
Agricultural Goods and Fertilizers:
- Susceptibility to spontaneous combustion and wet damage
- Robust and documented housekeeping procedures
- Transits by barge
Automotive:
- Port accumulation
- Natural catastrophe given outside storage
- Control of damage in relation to damaged vehicles (repair vs replace)
Food and Beverage:
- Possible temperature sensitive nature
- Contamination
- Fear of loss
- High value conveyances
Pharmaceuticals and Healthcare Products:
- Possible temperature sensitive nature
- Contamination
- Fear of loss
- High value conveyances
Commodity Traders:
- Misappropriation coverage
- Standard operating procedures/due diligence in relation to storage locations utilised
- Sanctions/compliance screening
Coverage and Capacity
Coverage
- All risks of physical loss or damage
- Guaranteed outturn for bulk liquids
- Assembly, integration and testing for Pre-Launch risks
- Installation coverage
- Delay in start-up insurance
Capacity
- We offer capacity via both Lloyd’s and AXIS Specialty Europe SE Company paper
- Capacity – Max line is $100m
- Project Cargo: $150m
- AXIS Energy Transition Syndicate 2050™: $75m
Capabilities
- We operate on a lead and follow basis
- Consistent approach to risk enquiries
- Receptive to unusual type enquiries
- Flexibility on security deployed for placements – Syndicate and Company stamp
SOLUTIONS
Specialty solutions tailored to your needs
Our Cargo Stock Throughput policy covers your customers across the entire supply chain.
We are at the forefront of coverage for time-sensitive infrastructure projects and can offer Delay in Start-up coverage if a cargo loss causes a financial delay.
A uniquely complex and vital sub-class, the AXIS Marine Cargo team has the knowledge to offer extensive coverage during a satellite’s pre-launch phase.
Our broad underwriting appetite allows us to create multi-layered programs for multi-national customers with significant stock exposures across the world.
Our Cargo Stock Throughput policy covers your customers across the entire supply chain.
We are at the forefront of coverage for time-sensitive infrastructure projects and can offer Delay in Start-up coverage if a cargo loss causes a financial delay.
A uniquely complex and vital sub-class, the AXIS Marine Cargo team has the knowledge to offer extensive coverage during a satellite’s pre-launch phase.
Our broad underwriting appetite allows us to create multi-layered programs for multi-national customers with significant stock exposures across the world.
A diverse risk portfolio
From everyday Cargo transportation to more specialized risks, our skilled team has the capabilities to effectively handle a wide range of situations.
Covering a distributor’s supply chain∗
A distributor supplying various retail stores across the U.S. sources from suppliers across Asia.
The goods will be collected by local couriers or carriers in order to be delivered to U.S. retail stores. The shipping container is then loaded aboard a container vessel for a voyage to the U.S. which will typically take four to six weeks.
Upon arrival at a port in the U.S., the container is unloaded and passes through customs. Once cleared by customs, the shipping container is collected by a haulier and taken to a distribution center where it is unloaded and goods stacked on racks. These goods will then be used to complete sale orders.
The goods will be collected by local couriers/carriers in order to be delivered within the U.S. to the retail stores. The goods are covered throughout its voyage from the manufacturers right through until delivery to the final retail stores. The AXIS stock throughput coverage can protect the distributor’s interests at each stage of the voyage, including associated storage.
Handling complex risk from factory to launch pad∗
A satellite manufacturer wins a contract to provide a constellation of smaller satellites to the commercial sector for broadband and GPS functionality.
For a business in this industry, the main risks are in relation to the precision work that takes place in the clean room assembly areas and during testing, which can encompass vibration and heat tests. Risk also occurs while the satellite is at the launch pad and on board the selected launch vehicle, which is fueled and ready to go.
For these types of risks, AXIS Cargo can cover the inward transit of the component parts followed by the assembly, integration and testing of each of the satellites while at the manufacturer’s premises. Coverage can be extended to the transit of the finished satellites to the launch pad until the moment of intentional ignition on board the launch vehicle.
Covering a distributor’s supply chain∗
Handling complex risk from factory to launch pad∗
A distributor supplying various retail stores across the U.S. sources from suppliers across Asia.
The goods will be collected by local couriers or carriers in order to be delivered to U.S. retail stores. The shipping container is then loaded aboard a container vessel for a voyage to the U.S. which will typically take four to six weeks.
Upon arrival at a port in the U.S., the container is unloaded and passes through customs. Once cleared by customs, the shipping container is collected by a haulier and taken to a distribution center where it is unloaded and goods stacked on racks. These goods will then be used to complete sale orders.
The goods will be collected by local couriers/carriers in order to be delivered within the U.S. to the retail stores. The goods are covered throughout its voyage from the manufacturers right through until delivery to the final retail stores. The AXIS stock throughput coverage can protect the distributor’s interests at each stage of the voyage, including associated storage.
A satellite manufacturer wins a contract to provide a constellation of smaller satellites to the commercial sector for broadband and GPS functionality.
For a business in this industry, the main risks are in relation to the precision work that takes place in the clean room assembly areas and during testing, which can encompass vibration and heat tests. Risk also occurs while the satellite is at the launch pad and on board the selected launch vehicle, which is fueled and ready to go.
For these types of risks, AXIS Cargo can cover the inward transit of the component parts followed by the assembly, integration and testing of each of the satellites while at the manufacturer’s premises. Coverage can be extended to the transit of the finished satellites to the launch pad until the moment of intentional ignition on board the launch vehicle.
*Case study examples may be based on actual cases, composites of actual cases or hypothetical scenarios and are provided for illustrative purposes only. Cover provided depends on the facts and circumstances of the risk, the terms and conditions of the policy as issued, and applicable law. The information is intended for use by licensed insurance producers and is not an offer to sell, or a solicitation to buy, any insurance product for a particular insured. Policy terms, conditions or exclusions may vary. No insurance product is offered or will be sold in any jurisdiction in which such offer or solicitation would be unlawful.
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Claims
We deliver on our promises
Effective resolution for customers is achieved with our highly skilled claims specialists focusing on:
- Quick decision making
- Championing your needs
- An honest approach
∗Claims examples may be based on actual cases, composites of actual cases or hypothetical claim scenarios and are provided for illustrative purposes only. Facts have been changed to protect the confidentiality of the parties. Whether or to what extent a particular loss is covered depends on the facts and circumstances of the loss, the terms and conditions of the policy as issued and applicable law.
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