Latest news from Heavy Lift & Project Forwarding International Magazine

AGCS expands insurance offering

Allianz Global Corporate & Speciality (AGCS), Allianz Group’s specialist corporate insurer, has formed a partnership with its engineering division to offer expanded project cargo coverage.

 

The new collaborative approach, according to AGCS, allows the insurer to provide continuous end-to-end coverage for companies managing unique and complicated risks.

According to AGCS, with an increased demand for large-scale production facilities and infrastructure developments worldwide, the transport of high-value, critical equipment for these projects has become more intricate and complex.

The enhanced project cargo offering, expanded to meet this growing need, provides comprehensive coverage for complicated risks under a single policy.

“By having a single policy cover both marine and engineering risks, there are tremendous benefits: enhanced risk management, expedited policy issuance and claims resolution,” said Kevin Wolfe, global head for project cargo, AGCS.

“We now provide a single point of contact for clients and brokers, which makes it easier to identify whether a loss occurred in transit (marine) or during a construction phase (engineering). Even better, all underwriters and loss adjusters are with one company – Allianz.”

Underwritten by AGCS Marine, its project cargo insurance is designed to meet the risk management needs of sizeable ventures. The coverage includes: shipment of equipment and machinery to a construction site; loss or damage of components in transit that are part of a large civil, production facility and/or infrastructure construction project; delay in start up (DSU) loss of income and/or advanced loss of profits (ALOP) stemming from late or non-arrival of critical components due to a covered loss; and erection/construction all risk insurance provided by its engineering division.

“Project Cargo insurance is projected for strong growth and we’re poised to meet the increasing global customer demand,” added Wolfe.

www.agcs.allianz.com

Heavy Lift | News

Crosby delivers training courses thumbnail image

Crosby delivers training courses

April 19 - The Crosby Group has conducted two rigging training courses in the USA on behalf of its distribution partner, B.C. Wire Rope & Rigging.
Views: 222
Egbert joins at Weserport thumbnail image

Egbert joins at Weserport

April 19 - Rudolf Egbert has been appointed to the management of Bremen-based terminal operator Weserport.
Views: 325
Ritchie realigns in North America thumbnail image

Ritchie realigns in North America

April 19 - Ritchie Bros has made two senior appointments, effective July 1, 2019, as the company aims to realign its organisation in North America.
Views: 253

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.