In January 2010 we held our inaugural London market insurers’ finished vehicle logistics forum.
Bringing together leading marine cargo insurers with interests in automotive logistics, this forum is focussed on increasing understanding of our complex sector to aid decision making and develop best practice.

Attendees discussed both the catastrophic and attritional risks vehicles, manufacturers and insurers are exposed to in the delivery process. For example, in 2009 there were 899 reported ‘severe’ hail incidents across Europe; all with the potential to damage vehicles in storage.

Further discussions explored activity to mitigate these risks, such as risk assessments and data capture processes. Disaster recovery as a tool to mitigate cost should the worst happen was also identified as a direction for the forum going forward.

The forum will next meet in early summer 2010 and will be complemented by Pound Gates’ on-going UK Automotive Quality Forums (bringing together manufacturers and logistics service providers) and an equivalent forum for European marine cargo insurers which will convene for the first time in March.