The launch of a new marine transit policy by Associated Marine in New Zealand is being described as a “first”.

The company’s new goods in transit policy will for the first time allow claims to be settled for defined events including fire, flood, collision and impact.

MD Stephen Ford says the policy covers a previous gap in the transit chain. “It’s a ‘one-of-a-kind’ cover in the NZ market… offering the ability to settle claims on a commercial basis whether legally obliged or not.”

He says the policy’s coverage can be extended to include theft, pilferage, non-delivery, and accidental damage during loading and unloading.