Howden’s Stock Throughput insurance is designed especially for manufacturing and distribution companies. It covers stock in-storage and in-transit – whether that is raw materials, components, semi-finished or finished goods.
We can provide cover at all three levels of the Institute of Cargo clauses, and further tailor to your needs if required.
What is covered?
Stock Throughput is cargo insurance that provides end-to-end cover for your stock.
Standards terms for cargo insurance policies were voluntarily adopted by many international marine insurance organizations, including the Institute Of London Underwriters and the American Institute Of Marine Underwriters.
These standard terms are called Institute Cargo Clauses, or ICC A, B and C, or often, just A, B or C.
Types of Stock Throughput cover
“All risks” cover (ICC A)*
“All risks” means we cover for any peril not specifically listed, for example, political risk type incidents may be listed as exclusions.
“With Average” cover (ICC B)
“With average” coverage offers protection for partial losses, in situations where such partial losses reach an agreed percentage of the insured value.
"Free of Particular Average" cover (ICC C)
Free of Particular average cover is is very restrictive as to which scenarios it covers. The opposite approach to “all risks cover”, ICC C policies only insures you against specific named perils. It’s a risk, but it can save you money if well-designed.
Flexible policies with minimal restrictions
Our policy has no time restriction on how long your goods are in store. It also offers cover on an “any one location” basis, which means you can avoid the named location limits imposed by other policies.
War and strikes cover added in for free
Our relationships with insurers often mean we can negotiate additional coverage on top of the ICC clauses – ask about us including elements of political risk cover for free.
Risk management expertise
Our expert risk consultants are always there to provide a free risk management consultation.
Our claims team is also on your side, negotiating with the insurer if you need to make a claim and leveraging our long-standing relationship to get you the best possible outcome.