Claim Ownership

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In the final episode of the series, Mike Yarwood, TT's Managing Director Loss Prevention, talks once again to David Thompson of Signum Services.  As cargo is widely considered to be most at risk when it is at rest, the key topic for discussion this week is secure parking for trucks. Mike and David discuss the barriers to adoption for both drivers and truck stop providers across the globe in the fight against cargo crime. 
In this week's episode, Mike Yarwood, Managing Director Loss Prevention, talks to David Fairnie of BSI Supply Chain Services and Solutions about the security threat posed by the insider.  While difficult to evidence, there is often suspicion in cargo theft incidents of a degree of insider involvement - sometimes it's just too much of a coincidence that the thieves knew exactly which truck to target and at what time. In this episode we look at how thieves infiltrate a company, who they might target for insider information and why this can be such an effective mode of theft. We also talk through the strategies and procedures that companies should consider to mitigate the security risks posed by the insider. 
In this week's episode, Mike Yarwood, Managing Director Loss Prevention, talks to David Thompson of Signum Services about the cargo theft strategies that are most commonly used by thieves.  Strategies discussed include: round the corner theft, Romanian rollover theft, staged incidents and "blue light" crime. This episode will outline these strategies, how they work in practice and how stakeholders in the supply chain can identify the red flags and mitigate the risk of exposure. 
In episode three of TT's supply chain security podcast, Mike Yarwood talks again to David Thompson about depot security and how to mitigate the risk of theft. Depots are a critical node in supply chains all over the world. Such locations might function as an operating centre for trucks, trailers and containers, a temporary storage facility as well as a secure area to park vehicles. For those with intentions of stealing cargo, transport depots provide an excellent one stop shop opportunity of an accumulation of valuable assets.
In this weeks episode, Mike Yarwood, TT's Managing Director Loss Prevention, and David Thompson of Signum Services, drill down into the subject of fraud and how individuals and organised criminal gangs pose as legitimate companies to access and steal cargo. After all, fraud knows no geographical boundaries and is deployed by criminals the world over. 
This is the first episode in a series of six focused on supply chain security, in particular cargo theft and related crimes. In this interview series we will consider a range of risks including fraud, depot security, common theft strategies and the threat posed by the insider. In this first session, Mike is joined by David Thompson, Signum Services (the in-house investigative arm of Thomas Miller), to provide a general overview of supply chain security and why it remains a topic of focus for TT Club and their Members. My colleague David Thompson, from Signum Services, the in-house investigative arm of Thomas Miller joins me for the discussion.
This week, Mike Yarwood, Managing Director Loss Prevention, talks with Geraldine Savin, Senior Claims Executive for the TT Club about the importance of incorporating standard terms and conditions (STCs).  In an industry fraught with potential risks, disputes and claims are perhaps inevitable. The exposure to claims can be minimised, however, by maintaining robust management controls - such as STCs. A business' STCs are often its primary risk management tool, used for setting out the terms under which they interacts with their customers. As we explore in this podcast however, the ability to rely on the provisions of STCs is not a given. 
This week, Mike Yarwood, Managing Director Loss Prevention, talks with Kate Andrews, Underwriter for the TT Club about contract review. TT are regularly involved in contract reviews for our Members, while in our capacity as insurers, we are unable to provide legal advice to our Members, we are able to identify concerns and certain clauses that we can advise our Members to either challenge with their customer, seek legal advice on or highlight potential financial risks where insurance cover might not respond to the full extent of the risk. This episode will look at examples of how this all works in practice. 
This week, Mike Yarwood, Managing Director Loss Prevention, talks with Andrea Gentile, Senior Claims Executive for the TT Club around the topic of due diligence. Effectively a risk management tool, due diligence can help businesses mitigate the risks they face every day. As we continue to see the globalisation of trade, new opportunities are found more often than not in other parts of the world making thorough due diligence paramount in verifying legitimate third-party business.
This week, Mike Yarwood, Managing Director Loss Prevention, talks with Julien Horn, Senior Underwriter, about the risks of conducting business with unfamiliar jurisdictions. Opportunities in emerging markets can seem attractive, especially when the global economy is sluggish, however these opportunities are not without risk and thorough due diligence should be conducted before making any contractual commitments. 
Mike Yarwood, Managing Director Loss Prevention is joined by Andrew Watson-Steward, Cargo Underwriter at TT Club, to discuss the differences between liability insurance and cargo insurance. Understanding the differences between liability and cargo insurance is crucial when it come to ensuring there are no gaps in cover and no avoidable losses.
Mike Yarwood, Managing Director Loss Prevention is joined by Manos Karanikolas, Senior Claims Executive, to discuss the risks and challenges surrounding uncollected or abandoned cargo.  Uncollected cargo is a perennial challenge for freight forwarders and NVOCC operators. The issue can result in considerable costs on container demurrage, detention, storage and disposal costs. Aside from the purely monetary risks, incidents of uncollected cargo demand a significant management resource to resolve and have the potential to affect commercial relationships.  Avoiding uncollected cargo incidents can be challenging, however, management controls and mitigation strategies can assist in reducing the frequency of incidents. Early identification of the risk and being empowered to mitigate the consequences will reduce exposures. All incidents are complex and will incur costs, prevention is therefore better than managing the incident effectively once it has happened. Crucial to prevention is maintaining management procedures to identify shipments, which present a heightened risk and taking evasive action to protect your business... 
Letters of indemnity (LOI) are quite frequently used in the international shipping and trade practice. Despite discussions and advices around the topic, there are always concerns around the value and enforceability of such undertakings. 
By way of update, the Hong Kong Appeal Court confirms the rejection of jurisdiction based solely on a ship's arrest, thus thwarting an attempt to secure potential greater ship's limitation fund. This follows the existing legal tests relating to the natural and appropriate forum for a hearing. 
Commercial relationships being what they are, there will be instances where a freight forwarder or logistics operator may be presented with an opportunity to start or continue to provide services to a customer on condition that they accept full liability for the goods in question. Consider such requests carefully!
An update, following appeal, concerning the ancient principles of general average (GA). In this instance the cause was piracy, but the case involved the interfaces between differing contracts and sharing risk - both by way of insurance and GA. The English Court of Appeal decides…
Since land-based storm events frequently are most severe at the shoreline, it is unsurprising that containers become caught up in the ensuing damage. Let’s look at some of the risks.
Climate change is resulting in an increase in the severity of droughts, fires and floods in many parts of the world. Record rainfall resulting in flooding in Eastern coastal areas of Australia are a poignant example. Severity and broader distribution of windstorms can also be attributed to climate change.
Effective incorporation of standard trading conditions remains a fundamental business practice. Seeing them interpreted robustly by the courts in South Africa adds confidence.
Disruptions through the global supply chain continue to create opportunities for criminals to infiltrate and access cargo. The ongoing impacts of the COVID-19 pandemic blight economies and have profoundly altered supply chains such as just in time models. The tragic situation in Ukraine will undoubtedly further challenge global freight movement.
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