aba Group Talks to Manufacturers About The Benefits of Stock Throughput Insurance
For some manufacturers and worldwide distributors, insurance and risk management can be nightmare. So to help, the aba Group is advising businesses with large supply chains on how they can consolidate their insurance policies.
For some manufacturers and worldwide distributors, insurance and risk management can be nightmare.
So to help, the aba Group is advising businesses with large supply chains on how they can consolidate their insurance policies.
Aba Group’s Managing Director Graham Webster states:
“What some business owners don’t know is that many separate policies can be swapped for a single, integrated, seamless policy. Our Stock Throughput Insurance coverage does exactly this. Where business owners may have previously had inland transit, inventory and marine cargo insurance policies; they can now have an all-encompassing policy that bridges the gaps and covers the additional risks that a collection of individual policies may bring”
Stock Throughput Insurance covers a company’s goods against physical loss or damage, within its control, anywhere in a global supply chain; in transit and in storage.
It can even be extended in some cases to cover the goods that are still undergoing the manufacturing process. The benefits of having a policy like this include having to deal with only one insurance underwriter, covering the gaps that can be left between separate insurance policies, as well as potential cost savings.
“In addition to these benefits, the business then only needs to liaise with the one claims department in the event of a loss. Although this particular kind of policy is best suited to companies in manufacturing, or those with large, multi-transport supply chains; it is still incredibly useful. Knowing that your supply chain risks, from raw materials, all the way through to the finished product, are managed; can be a relief. Some smaller businesses cannot afford to lose revenue should a claim fall through the cracks in their policy wordings. As such, it can be useful for these businesses to speak to a specialist Business Insurance Broker to ensure that the entirety of their supply chain is covered” says Mr Webster.
Stock Throughput Insurance is a better choice for those manufacturers who deal with raw materials or semi-finished goods for additional value added manufacturing, who then store and distribute the finished goods through multiple warehouses worldwide.
The aba Group have been providing expert advice in this area to a number of local businesses in the Bolton and Manchester area. So if you would like advice on either your current risk management activities or your contingent cargo insurance contact them today.
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About aba Group:
aba Group has been operating in Bolton for years, headed by Managing Director Graham Webster and fellow Director Lynne Eckersley, they have 70 years’ experience in the industry between them. Their specialist insurance coverage spans schools and academies, directors, officers, contractors, engineers, landlords and a whole host of other professional roles and activities; which has seen them become the go-to business insurance broker locally.
For further information contact:
- Contact Information
- Graham Webster
- Managing Director
- aba Group
- (44) (0) 1204 364 842
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