The MMIF Presents: Neil Hiller, Managing Director of Austbrokers Hiller Marine Pty Ltd on "Cargo insurance - an obsolete model?”

"Cargo insurance - an obsolete model?

In the modern Global economy where our clients use the language of Bitcoins, Blockchains, Cyber Currencies & Cyber Risks, are vulnerable to many varied & complex Logistics & International Supply Chain Risks, isn’t it time that the market comes up with something more contemporary & more relevant than traditional Marine Cargo insurance? Cargo insurance, that excludes delay, consequential loss, insufficient packing, insolvency of shipping lines, cyber fraud, non-payment by customers & goods that are not in the ordinary course of transit? Neil Hiller looks at these questions, considers the technical issues involved & argues that insurers should be looking to insure risks - not avoid them"