OREANDA-NEWS. October 05, 2009. Among the participants of this conference, organized by the newspaper Vedomosti, was Mr. Dmitry Korpusov, Deputy Head of Corporate Sales Department of ROSNO and Deputy Head of ROSNO’s North-Western Directorate, who delivered a speech on interaction with an insurance company in the times of financial crisis, reported the press-centre of ROSNO.

Over 200 business representatives participated in this event: among them specialists of transport authorities, international and Russian transport companies, major cargo owners, forwarders, distributors, logistical operators, etc. Among the speakers were representatives of such companies and organizations as the Committee for Transport and Transit Policy of the Government of St. Petersburg, major port of St. Petersburg, Pervaya Gruzovaya Kompaniya, Sanna Group, JTI Russia, Interterminal, Logistika-Terminal, Energo Logistik, etc.

This year, the organizers of the conference “Transport and Logistics” set a task for speakers and the audience to discuss a number of the industry’s most acute issues: human resources in the field of transport and logistics; how should carriers act in the times of falling raw prices; what prospects do the logistics centres have in the new economic conditions, etc. These issues were discussed in two sessions: Transport and Logistics in New Economic Conditions, moderated by Mr. Anatoly Tyomkin, renowned journalist of the newspaper Vedomosti, and Transport and Logistical Systems, moderated by Ms. Nadezhda Malysheva, Development Director of the information and analytical portal PortNews.ru.

Mr. Dmitry Korpusov, Deputy Head of ROSNO’s Corporate Sales Department and Deputy Head of ROSNO’s North-Western Directorate, focused his speech on explaining how instrumental insurance is in cutting potential costs of cargo transportation business. He paid much attention to interrelation between the cost of insurance policy and its reliability. “In the times of financial crisis, the demand for insurance has fallen: there have been changes to the clients’ needs and transaction volumes, and reinsurance companies have stiffened their requirements. The majority of companies seek to attain maximum reduction of costs, and the lower cost of insurance is certainly attractive, but while insurance companies charge less for their services, one can only ponder why one and the same product is more expensive or less expensive in different times? The cost of insurance policy shall be as well-founded as possible, since it lays the basis for the financial guarantee of potential future payment of insurance compensation to a client, and each rate reduction must be thoroughly negotiated with the insurance partner.

To satisfy the needs of transport operators and cargo owners, our company has complemented an insurance policy with the mechanism for adjustment of insurance premium depending on how intensive the client’s current business operations are. Thus, the size of insurance premium depends on the actual quantity and average value of transported cargo. Throughout the effective period of the insurance policy, the insurer calculates the volume of actually transported cargo. On the basis of the insurant’s current cargo turnover figures, the insurer adjusts the rate of insurance premium and applies the new rate to the entire volume of transported cargo. If we are contacted by several cargo owners asking to insure their combined turnover, each of them can benefit from more favourable insurance terms”, told Mr. Dmitry Korpusov. In his opinion, the major qualities of a reliable insurance company are: individual approach to each client’s needs, extended range of available products, complete and prompt services — whether in running contracts, or in settling insured accidents.