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From the Brig

increased port expenses, while the or commercial haulier, who obtain activities of a ship supplier, and time must
vessel sits idle. You can be sure that in specialist insurance for such activities.
be spent with risk assessments to ensure

this depressed market even the most that the suppliers’ business is not unduly It is crucial to ensure that when
commercially unviable vessel sitting idle exposed by this activity.
renewing your insurances that you give

in such a way will accumulate a fullest disclosure to your insurance ISSA is seeking to play its own part in

significant demurrage claim.
brokers, and highlight any changes in assisting its members, and a forthcoming
It is therefore important to protect your business profile. If you simply review of the ISSA Conditions will

against those financial risks. Insurance is renew on the same terms year after year include a section designed to provide
obviously one way in which a supplier you may find that the insurance you once minimum protection to suppliers who are

can protect itself. Be careful to ensure had is no longer fit for purpose.
handling customers’ goods. These
that the insurance in place reflects the revised ISSA Conditions will address Aside from insurance, protection

activities that are undertaken. The some of the issues raised here, and ISSA comes from clear contracts which
insurance that may have traditionally will continue to promote the use of the identify who must do what and when,

been in place to insure your own ISSA Conditions to its members.
and from utilising terms and conditions
products against loss or damage is very which protect you as far as possible. It is nevertheless crucial that

unlikely to cover you for the loss of third Terms and conditions should limit suppliers engaged in these activities

party goods that you are storing on liability for lost or damage goods, usually pause to consider how this may affect the
behalf of someone else. The same by reference to the weight of the goods, risks to their business, and take steps to

applies to your vehicle insurance. Third and exclude indirect losses (such as address them.
party goods carried in your vehicles will It is hoped that the revised ISSA vessel loss of hire claims) and the

not normally be insured under your Conditions can be introduced in the next customer should indemnify the supplier
traditional merchant’s insurance.
edition of The Ship Supplier, but you for all taxes, duties, fines and penalties

This is because insurers will rate the should not wait until then to consider arising from their handling of customers’
risks of insuring your own goods very whether your current business activities own goods.

differently to the commercial storage It should be obvious that the handling leave you exposed. For further advice
and carriage of third party goods. These of customers’ own goods gives rise to contact Bruce Hailey at

are the activities of a freight forwarder
many different risks to the traditional
bh@salvuslaw.com u

2014 Issue 62
The SHIP Supplier 43