S P E C I A L F E ATURE MANAGING THE RISKS OF MOVING IS NO LONGER PLAIN SAILING Workers attempting to recover loads from the Golden Ray cargo ship, which capsized in St Simons Sound, Georgia, in September last year Movers are discovering new challenges in securing suitable transport insurance for their household goods moves. Andrew Bennett investigates insurance changes and looks at how movers in one market may be dealing with the issue I nsuring clients possessions for an overseas move is an essential step in the relocation process, but international moving companies may well find the process more demanding than it used to be. Its an issue that has certainly been in the spotlight in one European nation. FIDI Netherlands has recently raised moving insurance as a topic of concern for its members. The matter will be back on the agenda again for the Dutch associations annual meeting, expected to be held in Utrecht in December (or run as a virtual meeting instead). According to Aliates, insurance providers that cover their international moves are now more reluctant to underwrite household goods (HHG) moves. As a result, premiums have been rising. Major consolidation among insurance providers in recent years has driven changes including those aecting policy renewals and the cost of premiums. According to movers in the Netherlands, the insurance industry is critical of their use of outsourcing, and a perceived high ratio of claims. The FIDI Netherlands Board has written to the FIDI Board to express its concerns about insurance and will be discussing possible solutions at its annual meeting. IMPACT OF GLOBAL CLIMATE CHANGE WIEBE VAN BOCKEL, CHAIR OF THE FIDI NETHERLANDS ASSOCIATION 42 FF300 DecJan21 pp42-45 Feature.indd 42 Insurers who arrange HHG policies cite factors for rising costs including governance and compliance changes, shrinking capacity, underwriters withdrawing from market segments and global climate change. These factors and others as one leading insurer explains have contributed to a challenging environment that is likely to persist. (See An industry response box, opposite). Rules, regulations, and liability for insurance vary considerably in dierent markets around the world. However, developments in major insurance markets such as Lloyds of London (see box, page 44) drive wider trends in insurance. In its letter to the FIDI Board, FIDI Netherlands said: In recent years, insurers have seen the results of insuring storage and international removals deteriorating. More and more damages are (being) claimed (for). The consequences are obvious: premiums go up, deductibles are increased, coverage is limited, and coverage requests are even denied by insurers. It continues: The poor insurance results have various causes, but the most important of these according to insurance brokers Boelaars and Lambert is that moving services are increasingly being outsourced to other companies. The quality of those companies is not always good. As FIDI Aliates, we have a challenge, because the poor performance of subcontractors reflects on the Aliate who accepted the move. The negative performance is also bad for the image of the moving market, and the moving results in general. WW W. F I D I FOC U S . OR G 24/11/2020 11:22