Trade Tech adds marine insurance option

Trade Tech adds marine insurance option    Trade Tech, an information systems provider to the transportation and logistics industry, now offers an 'instant' marine insurance option through its global trade management system, known as Trade Manager, in partnership with the Baldwin Resource Group and the Chubb Group.
   Freight forwarders and customs brokers using Trade Tech's Trade Manager can now 'simply press a button' to buy marine insurance after completing their Automated Manifest System (AMS) profile. Once the insurance is purchased via Trade Manager and if a claim is made, it is paid promptly by the Chubb, the Bellevue, Wash.-based company said.
   According to Bryn Heimbeck, Trade Tech's chief executive officer, there are many advantages to the new insurance offering. The process of purchasing insurance is often duplicated and shippers, forwarders and brokers sometimes forget or they are too busy with other processes. In this case, the broker or forwarder can find itself in an errors and omissions situation, not covering the customer per the contract, which can lead to a major liability, Heimbeck said