Travelers’ Ocean Express Designed to Help Small Importers and Exporters |
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Written by U. S. Insurance News
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Monday, 16 June 2008 |
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The practices of importing and exporting aren’t just for big corporations with offices in multiple countries.
According to a report issued jointly by the Institute for the Future, a
California think tank, and the software company Intuit, one-third of
all small businesses are doing business abroad. This figure could rise
to 50 percent within the next 10 years.
Given this new business reality, Travelers Ocean Marine is introducing Ocean ExpressSM, an online system that allows agents to submit, quote, and bind comprehensive ocean cargo coverage for businesses with up to $10 million of annual international shipments.
Small companies that do business overseas need an ocean cargo policy that covers all of their shipments on broad insuring terms at an affordable rate, according to Scott Beebe, Ocean Marine director at Travelers. The alternative could be costly.
“If companies are obtaining coverage on a shipment-by-shipment basis, they could be paying higher premiums for inadequate coverage,” he said.
According to Travelers Ocean Marine, Ocean Express cargo policies offer:
- Comprehensive coverage for international shipments of new merchandise carried by ocean vessel or aircraft.
- Flat annual premiums, with minimum premiums as low as $1,000.
- Automatic coverage extensions at no additional charge, including control of damaged goods, concealed damage, shortage from containers, and contingent interest.
- Fast and effective claims handling from Travelers Ocean Marine claim specialists.
Ocean Express is available to appointed commercial lines agents through Agent HQ, Travelers proprietary online system.
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