Clothes2Order Home » Printing and Embroidery News » Insurance, Shipping and the Clothing Industry
UK Students Asking for More Fashion Skills Training
New Textile Mill Qualification Program
New Westfield Shopping Mall Opens
Del.ico.us
Google
Yahoo MyWeb
Blink
Digg
Furl
Simpy
Spurl
Insurance, Shipping and the Clothing Industry
Monday 22nd of September 2008 09:03:06 PM
A London Aon office bulletin reads, "Poor packaging by the fashion industry could mean that insurers refuse to pay claims for damaged goods in transit - not to mention that replacement clothing and accessories are unlikely to be delivered in time to catch the season." The bulletin continued to say, "(Aon is) advising fashion retailers to implement better packaging procedures and extend policy wordings to protect both their designs and their bottom line." All clothing including high couture to printed t-shirts is included in the warning.The warning to the fashion industry came because of problems found with the packing of containers on the MSC Napoli at Branscombe Bay. The Aon bulletin explained, "This is concerning as a marine cargo insurance policy excludes loss or damage caused by 'insufficiency or unsuitability of packing or preparation of the subject matter insured'. This exclusion means insurers can decline liability for the damage to the cargo plus substantial costs for recovery, re-stowage or destruction during the salvage operation."
Fashion importers stand a good chance of losing a lot of money under these circumstances, because the value of goods is based on the supplier price and not the retail price. Fashion importers need to have established risk management procedures which address container packing. There should be clear rules, consulting with consignment experts, and the removal of insurance clauses which exclude coverage for unsuitable packing. It's also important to make sure there is adequate insurance.
Mr. Tim Rowe said, "It's interesting to note that the inadequately packed containers are not just dispatched by small, inexperienced exporters but the majority are shipped by large multi national companies that export huge volumes and considerable values during the course of a year. We are also aware that many importers in the fashion industry do not insure for the true impact that a lost or damaged consignment will make to their balance sheet. This can be easily resolved by taking time to achieve a full understanding of your true exposure and negotiating an increase in cover to reflect this with insurers."
(c) Stella Levi, www.sxc.hu
Good experiance and will use you again. Roxy was very efficiant.
fantastic service! Products arrived sooner than expected. Also they had understood my design and made sure it was printed to an exceptional standard!
I don't know if you've changed your embroidery machine but the quality seems a lot sharper, very pleased with the club logo, all the best Series McRae Owners Club