From March 11 to 13, the first ever Minsk Logistics Insurance Forum was held in the Belarusian capital. Insurance providers and customers from Belarus and neighboring countries supported the event. The AsstrA Claims & Insurance Team shares the impressions they formed while participating.
Yurij Verbilovich, AsstrA Insurance Claims Lawyer, says:
“The forum was attended by experts from insurance companies and representatives of other businesses who had heated debates in panel discussions. The forum’s narrow focus made it possible to obtain some very specific and practical knowledge. It was useful to share experiences with colleagues from Belarus, the EU, Ukraine, and Russia.
Andrej Sheshko, Insurance Claims Lawyer, adds:
“First-hand information from experts gives an understanding of what international transport market players are concerned about when it comes to resolving unforeseen situations. During the presentations and discussions, issues were discussed that arise ever day in claims work. Thanks to the dialogues I shared with my counterparts from other companies, I can confidently say that participation in such industry events is a proven way to be “on the leading edge.”
AsstrA Senior Claims Lawyer Elena Vyunova says:
“At the Minsk Logistics Insurance Forum. speakers addressed pressing industry issues. In particular, some specific standards regarding certain types of insurance and packaging were agreed. The speakers identified legislative bottlenecks in various countries, discussed issues related to the settlement of losses, and talked about survey services. One highlight in the event’s program was a series of discussions on insuring goods against confiscation during times of hostility and recovering freight charges and VAT in case insured events take place. Speakers gave some real-life examples and examined how surveyors actually perform goods inspections at various stages of delivery. This up-to-date knowledge helps efficiently resolve issues arising in the course of our work with clients and partners. The second Minsk Logistics Insurance Forum has already been scheduled for March 2021. I hope such conferences will be held on an ongoing basis. The event brought together experts who are truly experts in their field.
As for working during the COVID-19 pandemic, this circumstances have prompted the insurance market to adjust. Today, cargo insurance is still relevant, but the shipment volumes have slightly decreased. Accordingly, the market for all types of transport insurance also dipped. At the same time, AsstrA carrier partners still have liability insurance, which has a positive effect on claims settlement. During the quarantine, AsstrA has received fewer complaints. However, it is worth noting that the number of fraudulent schemes involving theft, robbery, etc. has increased in the EU. Therefore, insurance and loss settlement workflows have not changed much during the pandemic. We have seen a drop in the numbers of insured goods and carriers, which I hope is temporary.