LAMPIE VAN DER NEST

www.ftwonline.co.za
Independent surveyor
crucial to minimise loss
Accidents will happen … there’s no cutting corners when it comes to insurance.
Liesl Venter
With project cargo
into South Africa
and Africa on the
increase – especially
in the renewable sector – industry
should be taking the time to
appoint an independent surveyor
to oversee the movement of this
specialised cargo.
That’s according to Mike
Brews, chief operating officer of
Associated Marine, who says that
from an insurance perspective it
is vital to have that independent
eye on the cargo, making sure it
is packed and shipped correctly.
“Especially for the oversized pieces
it goes a long way in minimising
loss and damage.”
And this is particularly relevant
in Africa where conditions are
often treacherous.
“It’s not only important from
an insurance point of view, but
also from the investor’s side.
“
In line with international
trends it is becoming
standard practice for the
insurer to manage the risk
when transporting project
cargo.
– Mike Brews
Any damage or loss of cargo
has a major impact on a project,
sometimes bringing operations to
a halt. Most investors don’t want
to see this as any projects that are
delayed mean a delay in income.”
He says the cargo is also so
valuable that it is not worth the
risk. “We have seen some cargo
brought in with massive values –
so much so that we have to find
international reinsurance to cope
with it. There is no cutting of
corners or risk taking when you
are handling these pieces.”
Brews told FTW that in line
with international trends it was
also becoming standard practice
for the insurer to manage the risk
when transporting project cargo.
“This is an international
requirement that is starting to
take off locally. In that regard
insurers need to understand that
they have to minimise risk at all
costs. An independent surveyor
goes a long way to ensuring that.”
For Brews there is no cutting of
corners when it comes to project
cargo.
“Especially when it comes to the
big out-of-gauge pieces with the
high values. It goes without saying
that reputable service providers
should be used who are cautious
and don’t cut corners – especially
in the African landscape where
infrastructure is not always
available and much can go wrong.”
He says in the project cargo
arena it is also necessary to choose
an insurance house that can offer a
full package.
“Most of these projects involve
a number of sectors of insurance.
Not only is there the marine side
that has to be taken care of, but
also when the cargo is handed over
to engineering for erection and
construction, liability cover and
then the corporate insurance that
handles the actual asset once it is
up and running, to name a few.”
According to Brews it is
advisable to find a company that
can offer a seamless insurance
product from start to finish.
“Project cargo is a very complex
market and we are still very new
at it compared to our European
counterparts for example. We are
however learning very fast and
becoming specialists at it. We are
very positive about the project
sector and expect to see much
more growth in the near future,”
said Brews.
20 Project Cargo November 2013