A stock throughput policy (STP) is a marine policy that insures a company’s inventory and the flow of goods from the source of production to its final destination, whether at a place of storage or a retail store. The goods are covered at all times, whether in transit, undergoing process (although damage caused by the manufacturing process is excluded), or in storage at owned or third-party premises. The policy covers all moveable goods (including inventory), raw materials, semi-finished, and finished products.
Key Features
- Full ‘all risks’ conditions for global storage and transit exposures
- Continuous coverage is provided for raw materials, work-in progress, and finished products on a domestic and global basis
- Can provide any combination of the following coverages all under one policy:
- Storage
- Ocean Cargo
- Inland transit
- Coverage can include windstorm, flood, and earthquake with deductibles (No percentage deductibles for catastrophic exposures)
- Selling price basis of valuation provides an element of business interruption coverage
- Ease of administration through premium rating against sales turnover, eliminating the need for time consuming declarations
- $250,000,000 of available capacity with top-rated insurance carriers
- Policy application on a primary and excess basis
- Manuscript wording tailored for each risk
Target Classes
- Manufacturers
- Distributors
- Logistics companies
- Importers/exporters
- Chemical, oil, and gas
- High tech, BioTech, and Pharma
- Retail
- Steel
- Agricultural
- Temperature sensitive
- Dangerous goods/explosives
- Spirits
- Wine
Submission Requirements
- Stock throughput application
- Statement of values with COPE
- 5-year loss history
- Minimum premium: $5,000