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DP World launches integrated cargo war risk insurance
DP World has launched what it describes as being a first-of-its-kind cargo war risk insurance solution to help businesses navigate disruption across Middle East trade routes. The company argues that, whereas traditional insurance has become fragmented, costly and often unavailable, its new solution provides continuous coverage across the entire supply chain, from ocean or air transit through port storage and inland delivery. Additionally, the new service offer closes critical gaps left by conventional insurance policies, which typically insure a single leg of the journey.
By taking advantage of its scale and relationships across global insurance markets, DP World says it has also been able to secure pricing that is significantly more competitive than standard war risk premiums.
“This is about solving a real, immediate problem for global trade,” said Yuvraj Narayan, Group CEO, DP World. “Supply chains don’t stop at the port or the shoreline, and neither should insurance. For the first time, cargo owners can access a single policy that protects goods across the entire journey, even in high-risk environments, helping keep trade moving when it matters most.”
The solution, available to all companies trading in or through the Middle East, covers physical loss or damage caused by war-related risks, including conflict, civil unrest, seizure and derelict weapons, with all valid claims settled with a zero deductible.
Also Read: DP World Joins Clean Seas Initiative To Tackle Plastic Waste
