Maksure Risk Solutions Launches Goods in Transit Facility (GIT) underwritten by Lloyds of London

Afroglobal insurance and reinsurance broker, Maksure Risk Solutions has announced the launch of a Goods in Transit Insurance for sub-Saharan Africa underwritten by the world’s largest insurance market, Lloyds of London. The Goods in Transit Insurance is available as a stand-alone product or as an additional section of the Heavy Commercial Vehicle Policy. It is designed to cover the exposure of Commercial Transporters in respect of accidental loss of, or damage to, their customers’ goods whilst being transported on their behalf.

The product is unique as it has been designed with the transporter in mind, particularly those operating in southern African region on a local and cross border basis. Cover is for road vehicles belonging to, hired by, or used by the insured transporter or their subcontractors.

Key Benefits

  • First Loss cover – no average applies
  • Shipping containers of any type included as part of load cover without inner or sub limits
  • Driver Fidelity included for theft/hijack
  • Carrying of Hi-Cube containers
  • Minor overloading tolerance included
  • Tarpaulins
  • Debris removal/spillage clean-up
  • Prevention of loss costs (even where there is no loss/damage to load)
  • Loss mitigation costs such as security at accident site, re-loading and/or alternative transport costs
  • Loading and unloading losses included where the policyholder is actively involved
  • Collision of load included on restricted covers
  • 96-hour intermediate storage

Cover Options

The Maksure Risk Solutions GIT facility offers flexibility in the cover options depending on the needs for the client:

  • All Risks
  • All Risks including deterioration following breakdown or malfunction of refrigeration equipment with option extension of incorrect temperature setting
  • Restricted or Specified Perils

Carrying Vehicle Options

  • Specified vehicle basis
  • Fleet basis
  • Contingency basis for Transport Brokers and/or subcontractors
  • Ground up cover for subcontractors when added to Insured Transporter’s policy

Territorial Limits

The facility covers the entire sub-Sahara Africa although our primary market is Republic of South Africa, Namibia, Botswana, Lesotho, Swaziland, Zimbabwe, Malawi, Mozambique, Angola, Zambia, Tanzania, Uganda, Rwanda, Burundi, Kenya and Democratic Republic of Congo (DRC).

For more information or quote requests on our Goods in Transit insurance and reinsurance solutions, contact our Specialist team on Tel +27 11 805 0086 or Email: info@maksure.co.za.

About Maksure Risk Solutions

Maksure Risk Solutions is an Afro-Global independent specialist insurance and reinsurance broker with business footprint in Africa, Asia, East & Western Europe, South America and the Caribbean. We provide innovative and tailor-made risk solutions in Insurance and Reinsurance as well as Risk Financing and Actuarial Consulting geared towards capital management and strengthening our client’s balance sheet. Maksure is also one of the major players in Captive Management (Establishment & Management) in South Africa, Mauritius, Bermuda and various other jurisdictions. We have access into the Lloyds of London with a deep understanding of African markets. Our global nature ensures that our clients access quality capacity as well as some of the world’s latest thinking and solutions

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