The international freight transport insurer, TT Club, which has an insurable interest in excess of 50% of the world’s tank container fleet, has today issued new guidance regarding how tank container operators can manage their risk.
This guidance follows the release of the 2020 global tank container fleets survey earlier this year which highlighted that, while there has been a slowdown in the growth of the global fleet in 2019 versus 2018, the fleet continues to expand.
Due to its long-standing history with the insurance of maritime containers, TT Club has used its experience working with and supporting operators and handling their claims to create a StopLoss document. It collaborated with a variety of industry and technical experts to produce the new advisory, the intention of which is to identify common claims exposures, whether operational or associated with the care of the tank as an asset. The StopLoss allows the insurer to provide guidance and seeks to bring clarity about the responsibilities of various stakeholders in this sector.
According to a release from TT Club: “This practitioners’ good practice guide is aimed at all stakeholders through the tank container transport chain whether operating, filling, discharging, cleaning or handling tanks. Informed by typical incidents, the document is structured in such a way that it follows the natural chronology of the transport chain in order to provide ease of access.”
