Jakarta, 9 October 2024

The event, attended by hundreds of participants from TMI's head office in Jakarta, its branch offices, and representative offices, as well as clients and brokers from several major cities across Indonesia, thoroughly addressed the current challenges in marine insurance. The seminar outlined the most effective strategies for risk mitigation and claims management in light of significant changes driven by the complexities of global trade, regulatory shifts, and the increasing frequency and severity of losses.

As one of the three market leaders in marine insurance in Indonesia, TMI not only offers superior products but is also backed by over 250 claims settling agents ready to address claims worldwide. "This global network enables us to handle claims efficiently, ensuring that our clients receive fast and accurate settlements, no matter where the claim occurs," stated Aminta Ginting, Head of the Claims Department at TMI.

In his remarks, Cahyo Adi, Director of Compliance, Risk, and HRGA at TMI, emphasized the importance of a shared understanding in risk management and the claims process to prevent unexpected risks from disrupting business operations. "We aim to ensure that our clients and partners can effectively manage risks and fully utilize our transportation insurance services," stated Cahyo.

The seminar featured two expert speakers: Dikarioso, Managing Director of PT Global Internusa Adjusting, who provided an in-depth discussion on the prevention and mitigation of claims in transportation insurance, and Nugraha Budi, S.H., a senior advocate from Nugraha Budi S.H. & Rekan Law Firm, who addressed the legal aspects and dispute resolution related to transportation insurance claims.

In his presentation, Dikarioso emphasized the importance of understanding the risks associated with transportation insurance, particularly the uncertainties of transportation events that can lead to economic losses for the goods being transported. He further outlined six key risks in the transportation of goods that must be monitored: the goods themselves, their packaging, the mode of transportation, the journey, weather conditions, and the locations of loading and unloading.

"Technical knowledge is essential regarding the nature of the goods, proper packing methods, transportation means from the production site to the port, travel routes to the destination port, and the locations and facilities for loading and unloading. This understanding ensures that risk management in the shipping of goods can be executed effectively," stated Dikarioso.

In another segment, Nugraha Budi, S.H., discussed the legal aspects that must be considered when shipping goods through transportation insurance in the event of loss or damage. He highlighted that the insurer may be held accountable, the carrier's responsibilities can be invoked, and other parties involved with the goods can also be implicated under the law.

"Immediately file a claim with the responsible parties, particularly the carrier and port authorities. Submit a survey to the carrier's representative or other accountable parties, including claims when findings arise from the survey. Do not provide a receipt if the goods are in questionable condition, and ensure to give written notification to the responsible party regarding the goods in question within a maximum of three days," explained Budi.

In response to the challenges of filing marine transportation insurance claims, Budi identified four common issues encountered in the field: 1. The insured either fails to pay the insurance premium or pays it late; 2. The insured delays reporting the claim to the insurer; 3. The insured does not file a claim with the carrier in a timely manner; and 4. The insured struggles to complete the necessary claim documents.

Both experts in attendance agreed that every stakeholder in the transportation industry must possess the ability to mitigate risks and implement effective claim strategies. This is essential because sea transportation remains the backbone of distributing export-oriented goods and facilitating inter-island trade in Indonesia, offering lower costs compared to air transportation.

In addition to discussing risk management strategies, TMI also unveiled its latest digital innovation, the e-Cargo application, designed to enhance efficiency in business operations. This application enables clients to independently manage their insurance needs, facilitating quick policy issuance and real-time report monitoring through an easily accessible dashboard.

"We are committed to continuously innovating and delivering the best service for our clients through user-friendly applications," added Cahyo.

As a follow-up to this event, TMI will offer special consultation sessions and additional educational opportunities for participants. This initiative is part of TMI's commitment to reinforcing its position as a leader in transportation insurance solutions in Indonesia.