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Importers & Exporters Program |
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Imagine one policy to cover your merchandise worldwide. Ogilvy & Ogilvy have a policy designed to do just that.
So many businesses rely on their freight forwarding companies to provide them with coverage for their goods while in transit. Many do this because they would prefer to not to deal with endless paperwork involved in making sure all their shipments are covered.
With the Ogilvy & Ogilvy custom Import/Export Policy, there is no added paperwork for you and buying your own insurance is usually less costly than the rates you pay your freight forwarder for what you hope is adequate coverage. When you control the insurance you know exactly how much you are insured for, what is insured and at what valuation clause your claim will be settled.
Some of the features of this policy are identified below. Please feel free to contact one of our Marine specialists to set up an appointment on how this policy can work for you.
- Worldwide coverage – warehouse to warehouse.
- Incoming Goods are insured for your cost, plus freight and duty and a mark-up to be determined based on your specific needs.
- Out-going goods are insured for your selling price.
- Coverage is “All Risks” – no need for added coverage for earthquake, flood or war. You are covered for all of these perils anywhere in the world.
- Your need for business interruption insurance reduces dramatically when you are indemnified for your selling price as your profit is already built in.
- Rates are generally much lower than what you are paying now through your freight forwarder as they will reflect your loss experience and not that of the freight forwarders combined loss experience of all his customers.
- No monthly reporting needed. All shipments are automatically covered.
- Profit Share agreement built in to every contract. Imagine no claims in the past year and you get a credit.
- Semi-annual premium installments available.
Other advantages to controlling your own policy issued in Canada:
- Claims payable in local funds – avoiding foreign currency problems such as devaluation and fluctuation.
- Local insurance reduces the probability of misunderstandings, correspondence and elapsed time in connection with handling of claims. This practice facilitates prompt replacement of goods and contributes to generally improved trading relations.
- Canadian marine insurance professionals are knowledgeable about domestic and international conditions and can better advise Canadian firms.
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