CORPORATE NEWS
NEW PRODUCT

TRANSASSURANCE POLICY

Lonpac Insurance Bhd (Lonpac) has introduced a new insurance facility to the transport industry from 1 October 2000. The Transassurance Policy is a tailor-made package of insurance protection designed to cover the operational liabilities for operators within the transport industry.

The Transassurance Policy was originally launched and marketed in Europe by Belgium-based Transport Management Europe (TME) and UK-based ERC Frankona Reinsurance Ltd. In Malaysia, Lonpac will be getting specialist underwriting and technical support services from Employer Reinsurance Corporation (ERC) Malaysia and TME.

Under this new facility, Lonpac will provide local operators the Transassurance Policy, a very comprehensive insurance package covering the operational liabilities of

a. freight forwarders
b. road transport operators
c. rail and air operators
d. warehouse keepers
e. ship agents
f. charter and ship brokers
g. ship and crew managers
h. marine agents
i. port authorities
j. terminal operators
k. stevedores
l. container storage and repair facilities
m. container lessor
n. vessel operators

The Transassurance Policy is among the most comprehensive transport insurance package offered in the market. It provides cover for

-third party liability
-cargo liability
-professional liability
-liability towards authorities
-legal costs and expenses
-equipment insurance and
-optional extensions such as libel and slander and dishonesty of employees

The policy can be specially packaged to cater for the needs of individual transport operator.

Should you be interested to know more about Transassurance, please email us at marketing@lonpac.com

Liability, errors & omissions, cost & expenses and specific extension insurance for the logistics and transport industry. Source: TME