Insurance Event at ESS

At the RI.Logistica Insurance event, Marsh Sweden presented various insurance aspects:

  • Ways of working
  • Market trends
  • Claim process
  • Reasons for goods damage
  • Importance of INCOTERMS and insurance coverage
Read the full article here: RI.Logistica Insurance event 2023

This comprehensive presentation aimed at the knowledge and insights necessary to effectively navigate the complex world of insurance.

European Spallation Source (ESS) with participants form the event

In addition to providing education and insights, these events offers networking, learning, and exchanging ideas within the insurance area. The event included a site visit at European Spallation Source ERIC, for a first-hand experience of the insurance-related operations in action. The tour, led by Jesper Ringnér, was highly appreciated for its informative and engaging nature.

Our member, European Spallation Source ERIC (ESS) have utilized our insurance for almost one year. “When we manage transportation, we benefit from a flexible system with a user-friendly interface that provides direct visibility into insurance costs”, highlighted by Cassandra Waad, Logistic Coordinator and Project Manager at ESS. RI.Logistica is about “Getting Science in PLACE!” by supporting research infrastructures (RIs) with optimising logistics so that they can focus on their core business of providing scientific results. One of our focusses to do so, is to provide competitive and tailored insurance solutions to our members’ specific requirements.  As a member and partner of RI. Logistica, it is Marsh’s role, as the leading insurance broker to provide our members, with the knowledge, resources, and tailored insurance solutions they need to protect their assets, manage risks, and thrive in an ever-changing business landscape.

Marsh highlighted the importance of correct use of INCOTERMS (International Commercial Terms) that holds significant importance when it comes to insurance. INCOTERMS are standardized terms established by the International Chamber of Commerce (ICC) that define the responsibilities and obligations of both buyers and sellers in international transactions. These terms not only influence the allocation of costs and risks between parties, but also play a crucial role in determining insurance requirements. The proper use of INCOTERMS is crucial for effective risk management in international trade. It influences insurance requirements, risk allocation, and cost distribution. Misunderstanding or misapplying these terms can lead to coverage gaps, disputes, and financial losses. Therefore, it’s essential for RI´s procurement department to have a strong understanding of INCOTERMS and to choose the right terms that align with their intentions and risk management strategies. This knowledge, coupled with clear communication and accurate documentation, is key to a successful and secure transportation. “As a logistic coordinator we get the first-hand experience of the lack of knowledge when it comes to INCOTERMS among the stakeholders” Cassandra adds. Through events like the RI.Logistica Insurance event and ongoing educational initiatives, Marsh demonstrates its commitment to helping RI.Logistica and our members to make informed decisions and navigate the complexities of the insurance industry. “Given our extensive involvement with exceptionally delicate and one-of-a-kind goods, having comprehensive and user-friendly insurance is of paramount importance. When you work at a research institute, you must grasp the scale of the risks involved” as emphasized by Cassandra.

Being a member-oriented organization, we are highly attuned to our members’ evolving needs. Partnering with Marsh, experts in the insurance market, affords us considerable flexibility and adaptability. In the realm of logistics, unpredictability is a constant, making it a tremendous source of reassurance for, who oversee the transportation, to provide insurance with robust support. RI.Logistica’s insurance offerings are unparalleled in their uniqueness.

RI.Logistica insurance: –> 

General Cargo insurance:

  • Maximum value for the insurance is tailormade for each member​
  • Claims handled by a dedicated back-office team
  • The cost is X% of the total insured value and is invoiced for each assignment monthly – easy administration and cost allocation.​
  • Deductible EUR 1000/assignment
  • ”One stop shopping” solution online​
  • No commitment or overhead cost

Samples Insurance :

  • There is no deductible amount​
  • You get 100% refund
  • The cost is X% (Minimum EUR15) of the total insured value and is invoiced for each assignment monthly – easy administration and cost allocation.
  • What’s Covered​:
    • The actual replacement value​
    • Time spent on producing the sample​
    • Travel, transport, and accommodation cost, if that has been generated

 The European Spallation Source (ESS) will process over 2,000 to 3,000 samples annually when in operation. Having insurance in place today is a testament to RI.Logistica’s proactive approach, a fact acknowledged by Cassandra. Our sample insurance at RI.Logistica covers the entire spectrum, including 100% coverage for samples, encompassing time investments, materials, travel expenses, and more, thus significantly enhancing the ease of coordinating transportation.

The event concluded with a dinner at the remarkable venue HYPOTEKET I LUND creating a memorable and enjoyable experience for all participants. The material presented at the RI.Logistica Insurance event is available on the RI.Logistica webpage, ensuring that attendees and others interested in insurance can access and benefit from the valuable information shared.

Download the article here: RI.Logistica Insurance event 2023

Participants to RI.Logistica insurance event at HYPOTEKET LUND