The Cargo Physical Loss and/or Damage Division

0 +

Years Experience

0 +

Completed Claims

0 K

Happy Clients

0 +

Professional Claims Handlers

The Cargo Physical Loss and/or Damage Division

The Cargo Physical Loss and/or Damage Division within a marine claims service company typically has the following key responsibilities:

These responsibilities require meticulous attention to detail and a thorough understanding of the process. It’s also important to familiarize oneself with the terms and conditions of the insurance policy, as they will define the circumstances under which one can make a claim and the documentation required.

Handling and Adjustment of Claims

The responsibilities of Handling and Adjustment of Claims within The Cargo Physical Loss and/or Damage Division within Marine Claims Service company typically include:

The shipper must report the damage to the carrier as soon as possible and provide evidence of the damage, such as photographs or inspection reports.

Reporting Damage to the Carrier The Cargo Physical Loss and/or Damage Division

The first step in handling marine insurance claims is to thoroughly document the incident. Once documented, it’s important to contact the insurance company promptly.

Documentation and Reporting The Cargo Physical Loss and/or Damage Division

In dealing with cargo claims, it’s important to remember that international rules (liability regimes) apply to the carriage of goods by sea such as the Hague-Visby Rules.

Understanding International Rules The Cargo Physical Loss and/or Damage Division

We are responsible for survey and expert appointment and coordination, gathering evidence, investigation and assessment of claims. We also coordinate with the adjuster appointed by the insurance company.

Survey and Expert Coordination The Cargo Physical Loss and/or Damage Division

We keep abreast of international rules applicable to carriage of goods as well as knowledge of clauses and liability regimes applicable to sea, air and road.

Understanding Cargo Clauses and Liability Regimes The Cargo Physical Loss and/or Damage Division

The division provides advice on policy conditions.

Advice on Policy Conditions The Cargo Physical Loss and/or Damage Division

We are responsible for understanding the correct principles to be used when adjusting and presenting a claim on the policy, as well as handling general average and salvage.

Adjusting and Presenting a Claim The Cargo Physical Loss and/or Damage Division

We are engaged to liaise with the Assured and third-party claimants and facilitate claims settlement.

Liaising with Assureds and Third-Party Claimants and Claim Settlement The Cargo Physical Loss and/or Damage Division

We can be assigned to pursue recoveries and salvage sales.

Defending or Pursuing Recoveries and Salvage Sales The Cargo Physical Loss and/or Damage Division

Recovery Actions

Recovery Actions within The Cargo Physical Loss and/or Damage Division department within a Marine Claims Service company typically include:

The division is responsible for pursuing recovery actions on behalf of underwriters or other principals. This involves identifying the party responsible for the loss or damage and seeking compensation from them. This could involve negotiation with the responsible party or their insurers, or it could involve legal proceedings.

Pursuing Recovery Actions The Cargo Physical Loss and/or Damage Division

Often, recovery actions may involve legal proceedings. The division would work closely with legal teams to prepare and present the case.

Working with Legal Teams The Cargo Physical Loss and/or Damage Division

In some cases, the division may negotiate settlements with the responsible parties or their insurers, avoiding the need for legal action.

Negotiating Settlements The Cargo Physical Loss and/or Damage Division

The division needs to maintain relationships with underwriters, other principals, and third parties involved in recovery actions.

Maintaining Relationships The Cargo Physical Loss and/or Damage Division

Understanding of Cargo Clauses

Understanding Cargo Clauses within The Cargo Physical Loss and/or Damage Division department within a Marine Claims Service company typically include:

The division needs to have a sound knowledge of the main cargo clauses. There are three main sets of Institute Cargo Clauses: Institute Cargo Clauses (A,B,C), Institute Cargo Clauses, and Institute Cargo Clauses.

Knowledge of Cargo Clauses The Cargo Physical Loss and/or Damage Division

The division provides advice on policy conditions. This includes understanding the details of the policy, such as what is covered, what is excluded, and under what conditions a claim can be made.

Understanding of Policy Conditions and Understanding Exclusions The Cargo Physical Loss and/or Damage Division

The division needs to understand the Particular Average Clause in marine cargo insurance. This clause covers damages caused by natural calamities such as storms, lightning, and thunder, among others. It also covers damages due to accidents such as collisions, grounding, and other types of accidents that are not caused by the negligence of the carrier.

Understanding Particular Average Clause The Cargo Physical Loss and/or Damage Division

Documentation and Reporting

Documentation and Reporting within The Cargo Physical Loss and/or Damage Division department within a Marine Claims Service company typically include:

The first step in handling marine insurance claims is to thoroughly document the incident. This involves recording all relevant details about the incident, including the date, time, location, and nature of the loss or damage. In the event of a claim, the division is responsible for providing evidence of the loss or damage. This could include photographs, inspection reports, or other forms of evidence.

Documenting Incidents and Providing Evidence The Cargo Physical Loss and/or Damage Division

Once the incident has been documented, it’s important to contact the insurance company promptly. This allows the insurance company to begin the claims process as soon as possible.

Reporting to the Insurance Company The Cargo Physical Loss and/or Damage Division

The division is responsible for maintaining detailed records of all claims and recovery actions. This includes records of communications, legal documents, evidence, and any other information relevant to the claim.

Maintaining Records The Cargo Physical Loss and/or Damage Division

The division needs to prepare regular reports on the status and outcomes of claims and recovery actions. These reports are typically provided to senior management, underwriters, and other stakeholders.

Preparing Reports The Cargo Physical Loss and/or Damage Division

Working with Expert Adjusters

Working with Expert Adjusters within The Cargo Physical Loss and/or Damage Division department within a Marine Claims Service company typically include:

The division works closely with expert adjusters who are appointed by the insurance company to assess the claim. This involves maintaining open communication with the adjuster throughout the process including providing details about the incident, evidence of the loss or damage, and any other relevant information.

Collaboration with Adjusters and Providing Necessary Information The Cargo Physical Loss and/or Damage Division

The division needs to understand the adjuster’s reports and findings. This includes understanding the adjuster’s assessment of the loss or damage, their determination of the cause of the loss or damage, and their calculation of the amount of the claim.

Understanding Adjuster’s Reports The Cargo Physical Loss and/or Damage Division

The division reviews the adjuster’s recommendations for the settlement of the claim. This involves assessing whether the recommendations are fair and reasonable, and whether they are in line with the terms and conditions of the insurance policy.

Reviewing Adjuster’s Recommendations The Cargo Physical Loss and/or Damage Division

Negotiating with Adjusters: If there is a disagreement with the adjuster’s assessment or recommendations, the division may need to negotiate with the adjuster to reach a mutually acceptable resolution.

Negotiating with Adjusters The Cargo Physical Loss and/or Damage Division

Once the adjuster’s recommendations have been accepted, the division is responsible for implementing these recommendations. This could involve arranging for the payment of the claim, coordinating repairs or replacements, or taking other actions as recommended by the adjuster.

Implementing Adjuster’s Recommendations The Cargo Physical Loss and/or Damage Division

Mitigation of Damage

Mitigation of Damage within The Cargo Physical Loss and/or Damage Division department within a Marine Claims Service company typically include:

The division is responsible for taking all reasonable measures to minimize and prevent further loss or damage where possible. This could involve arranging for immediate repairs, moving the cargo to a safe location, or taking other actions to prevent further damage.

Preventing Further Damage The Cargo Physical Loss and/or Damage Division

The division needs to understand the types of damage that can occur to cargo, including physical damage, wet damage, contamination damage, reefer related damage, and infestation damage. This knowledge is crucial in determining the recommended measures to mitigate damage in coordination with surveyor.

Understanding Types of Damage The Cargo Physical Loss and/or Damage Division

The division is responsible for implementing preventive measures against various types of damage1. This could involve using appropriate packing materials, ensuring proper handling of the cargo, maintaining appropriate temperature and humidity levels, and other measures.

Implementing Preventive Measures The Cargo Physical Loss and/or Damage Division

The division needs to coordinate with other parties involved in the transportation of the cargo, such as carriers and freight forwarders, to ensure that they are taking appropriate measures to prevent and mitigate damage.

Coordinating with Other Parties The Cargo Physical Loss and/or Damage Division

The division may also be responsible for training and educating staff and other parties on the correct handling of cargo to prevent damage.

Training and Education The Cargo Physical Loss and/or Damage Division

The division needs to document all actions taken to mitigate damage and report on their effectiveness. This could involve preparing reports for senior management, underwriters, and other stakeholders.

Reporting and Documentation The Cargo Physical Loss and/or Damage Division

If damage occurs despite mitigation efforts, the division is responsible for settling the claim with the insurance company. This involves providing evidence of the damage, documenting the mitigation efforts that were taken, and negotiating the settlement amount.

Claim Settlement The Cargo Physical Loss and/or Damage Division

Risk Assessment

Risk Assessment within The Cargo Physical Loss and/or Damage Division department within a Marine Claims Service company typically include:

The first step in risk assessment is identifying potential hazards. This could involve identifying potential sources of loss or damage to the cargo, such as physical hazards, environmental conditions, handling procedures, storage conditions, and transportation methods.

Hazard Identification The Cargo Physical Loss and/or Damage Division

Once potential hazards have been identified, the division is responsible for estimating the risk associated with each hazard. This involves assessing the likelihood of the hazard causing loss or damage, and the potential severity of the loss or damage.

Risk Estimation The Cargo Physical Loss and/or Damage Division

The division is responsible for implementing measures to control the risks identified. This could involve implementing preventive measures, improving handling and storage procedures, improving packing materials, or taking other actions to reduce the likelihood or severity of loss or damage.

Risk Control The Cargo Physical Loss and/or Damage Division

The division is responsible for implementing safety measures. This could involve improving handling and storage procedures, using appropriate packing materials, maintaining appropriate temperature and humidity levels, and other measures.

Implementation of Safety Measures The Cargo Physical Loss and/or Damage Division

The division is responsible for continuously monitoring the effectiveness of the risk control measures implemented. This involves regularly reviewing and updating the risk assessment, and adjusting the risk control measures as necessary.

Continuous Monitoring The Cargo Physical Loss and/or Damage Division

The division is responsible for documenting feedback on the effectiveness of the risk control measures. This could involve preparing reports for senior management, underwriters, and other stakeholders.

Documentation of Feedback The Cargo Physical Loss and/or Damage Division

The division needs to understand that cargo moves around the world and risk varies by region. Knowing when cargo is at a specific port is critical.

Understanding of Cargo Movement The Cargo Physical Loss and/or Damage Division

Some cargo is not at port during some times of year. Certain types have specific seasons or higher volume times. Time of year affects peril risk (e.g. US Hurricane Season). Knowing when during the year cargo will be at port is important.

Understanding of Seasonal Risks The Cargo Physical Loss and/or Damage Division

Collaboration

Collaboration within The Cargo Physical Loss and/or Damage Division department within a Marine Claims Service company typically include:

The division collaborates with various external parties involved in the claims process. This includes insured clients, carriers, freight forwarders, legal teams, adjusters, and other third parties.

Working with External Parties The Cargo Physical Loss and/or Damage Division

Effective communication with all stakeholders is crucial. This involves keeping all parties informed about the status of claims, recovery actions, and any issues or delays that may arise.

Communication with Stakeholders The Cargo Physical Loss and/or Damage Division

The division often needs to negotiate with other parties to resolve claims and recovery actions. This requires strong negotiation skills and the ability to resolve conflicts in a manner that is fair and satisfactory to all parties.

Negotiation and Conflict Resolution The Cargo Physical Loss and/or Damage Division

The division needs to maintain good relationships with all parties involved in the claims process. This involves building trust, respecting different perspectives, and striving for mutual understanding and cooperation.

Maintaining Relationships The Cargo Physical Loss and/or Damage Division

We Are Where Good Boating Happens

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis. Nullam at massa neque.

Yachting

Boating

Destination

Easy Procedure At Aqueous

Unlock Expert Advice

Our seasoned team of marine claims professionals is ready to navigate complex waters. With years of experience and a deep understanding of maritime regulations, we ensure swift and accurate claims resolution.

Phone

(+632) 82910450
24/7 Emergency Contact Number
(+63) 9171124981

Address

Unit 1007
10/F Antel Corporate Center 121 Valero Street, Salcedo Village Makati City, 1227 Philippines

Email

claims@aqueous.com.ph

Open Hours

Mon – Fri : 08.30 – 17.30

Choose Your Suitable Plan

Basic Package

Estibulum ante ipsum primis in faucibus orci luctus.

^$ 240 _{/ week}

Free Breakfast
Free Champagne
Special Treatment
24/7 Full Support

Get Started

Regular Package

Estibulum ante ipsum primis in faucibus orci luctus.

^$ 320 _{/ week}

Free Breakfast
Free Champagne
Special Treatment
24/7 Full Support

Get Started

Deluxe Package

Estibulum ante ipsum primis in faucibus orci luctus.

^$ 450 _{/ week}

Free Breakfast
Free Champagne
Special Treatment
24/7 Full Support

Get Started

The Cargo Physical Loss and/or Damage Division

The Cargo Physical Loss and/or Damage Division

Handling and Adjustment of Claims

Recovery Actions

Understanding of Cargo Clauses

Documentation and Reporting

Working with Expert Adjusters

Mitigation of Damage

Risk Assessment

Collaboration

We Are Where Good Boating Happens

Easy Procedure At Aqueous

Swift Claim Assessment

Transparent Documentation

24/7 Emergency Support

Risk Mitigation Consultations

Unlock Expert Advice

Phone

Address

Email

Open Hours

Choose Your Suitable Plan

Basic Package

Regular Package

Deluxe Package

Contacts

Quicklinks

Support