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Insurance

MARINE INSURANCE

HENDOR can provide marine insurance upon request. By insuring your cargo through HENDOR’s group scheme, underwritten by Lloyds of London, you automatically qualify for more competitive rates and wider cover. The rates are firm and normally not affected by one or two claims.

We also assure your cover by accepting the responsibility of timeously declaring all shipments to the underwriters. You have the further benefit of one-stop insurance that includes the settlement of legitimate, fully documented claims within seven days.

Important considerations when assessing your risk:

INCO TERMS only require that CIF shipments be insured on a total loss basis, leaving importers uncovered in certain other respects.

Insurance taken out on CIF shipments usually terminates at the port of discharge, leaving the high risk of road/rail transport uninsured.

The essential cover against Hijacking and Political risks on South African roads are more often than not an exclusion on overseas policies.

The importer is always the end receiver of lost or damaged cargo, but has not control over the type of cover arranged under a CIF shipment. Negotiations with an overseas insurer are costly and time consuming.

For insurance cover that includes transportation beyond the port of discharge, we advise that you consult a specialist broker to assess your specific needs and requirements.

FAIS compliancy In 2002, the Financial Services Board introduced the Financial Advisory and Intermediary Services Act, Act No. 37 of 2002 (FAIS), requiring representatives in the financial services / insurance sector to not only implement stringent reporting and control structures as defined by the Act, but to ensure that all representatives offering services within this sector hold valid predefined qualifications. We are pleased to announce that HENDOR has put all the necessary measures in place and have applied for FAIS compliancy.

* Rates for marine insurance are available from HENDOR on request.

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Hendor Transport | Driling & Blasting
Plot 230, 5th Road
Witpoort Estate, Brakpan, Minnebron
Tel: 011 743 2974
0861HENDOR