StopLoss: demystifying General Average
NewsProduced by The TT Club in collaboration with FIATA and the Global Shippers Forum, this latest StopLoss briefing provides a straightforward summary of the topic, along with essential good practice advice.
Produced by The TT Club, this StopLoss is intended to provide practical guidance to those stakeholders for whom the consequences of abandoned cargo are greatest.
Abandoned cargo is a continuous challenge for supply chain stakeholders, resulting not only in considerable costs on container demurrage, detention, storage and disposal costs, but also increased safety and regulatory risks. Aside from these identified risks, incidents of abandoned cargo demand a significant management resource to resolve and have the potential to impact commercial relationships.
This StopLoss is intended to provide practical guidance to those stakeholders for whom the consequences of abandoned cargo are greatest.
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TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a worldwide office network providing claims management services, and first class risk management and loss prevention advice.
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