Risk Broking has developed a unique Stock Throughput insurance product.

The Risk Broking Stock Throughput insurance policy combines the inland and overseas transit insurance and inventory storage insurance needs of a client into one policy.

Risk Broking’s Stock Throughput policy covers the insured’s supplies, raw materials and finished products during transit anywhere in the World to the Insured’s premises, whilst being worked upon and then transported anywhere in the world including the storage at final destination.

In essence, Risk Broking’s Stock Throughput policy is designed to provide seamless start to finish “All Risks” insurance protection for goods during transit and storage anywhere in the world.

Previous to the Risk Broking Stock Throughput policy, if a company was interested in securing insurance cover to protect against transit and stock exposures, they would need to take out a Marine Transit Policy, and combine it with an Industrial Special Risks (ISR) policy. However storage coverage may still not be afforded under an ISR for overseas risks or work in progress.

The Risk Broking Stock Throughput policy is underwritten by one insurer, thereby reducing the opportunities for gaps in coverage often experienced between goods in transit and storage insurance covers which are insured under separate policies.

The Stock Throughput policy provides competitive premiums for the client’s storage risks removing the need for stock to be insured under the clients existing ISR policy. “All risks” are covered throughout, customised to the particular needs of each client. Other benefits include the inclusion of cargo capacity for catastrophe risks such as earthquake and windstorm, offering more appropriate deductibles than provided by property markets.

Administration wise, the policy reduces time consuming declarations. Instead the premium is adjusted on expiry using sales turnover during the insured period.

While Stock Throughput policies are commonplace in the UK market, the policy has not been given much exposure in Australia, resulting in a general ignorance of their availability.

Risk Broking has made this product available to Australia.