NMU Video: Fast Track marine claims: Simplifying small cargo losses
Authored by NMU
At NMU, we recognise the impact a fast and efficient claims service has for both brokers and policyholders. Even small claims can take months to resolve and lead to a number of issues, often impacting operations and day-to-day management of our clients’ businesses.
Taking these factors into account, back in June 2020 we launched our revamped cargo wording and expedited cargo claims process, specifically designed to address the issue of protracted cargo claims.
Fast and fair claims settlement
In order to make the cargo claims process simpler and more efficient for both brokers and policyholders alike, Fast Track Claims allows for small cargo losses (GBP2,500 or less) to be submitted by the policyholder, electronically via our web portal. When using Fast Track Claims, NMU policyholders aren’t typically required to submit any formal supportive documentation, further speeding up the process.
Claims submissions are handled by a dedicated team of in-house experts who process settlement, with policyholders receiving reimbursement via BACS in just 3 days, if the criteria are met – rather than 3 months, which because of the multiple parties involved and documentation required, is on average typically the case for cargo claims.
Commenting on the success of Fast Track Claims since its introduction last year, our Claims Manager, Marc Thomasson said “By adapting our cargo claims process and offering a quicker, simpler route to resolution – we can save our SME policyholders and their brokers valuable time and reduce cash flow issues that may result as a consequence of pending claims.
“We are encouraging brokers’ claims teams to make NMU policyholders aware of the Fast Track Claims facility as their first port of call for small cargo claim submissions; allowing them to get back to running their business as soon as possible after a loss.”
If you would like to talk to NMU about their Fast Track Claims proposition or their complete Cargo Insurance solutions CLICK HERE, leave a message and youTalk-insurance will pass your enquiry on
NMU is an award-winning provider of specialty insurance solutions
We are the first choice for brokers looking for specialty insurance, offering solutions that are not simply off-the-shelf, but built upon a real understanding of the risks faced by policyholders. This, together with our ability to write risks such as storage, installation, construction and exhibitions outside of the UK and offer terrorism cover on overseas property, sets us apart from the competition.
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Our team of professionals based across the UK, provides customers with an in-depth product knowledge and a real personal service.
We provide bespoke insurance products that are not simply off-the-shelf solutions, but built upon a real understanding of the risks faced by policyholders as well as offering added value services to benefit our clients.
Our product and services range comprises:
Cargo Insurance: Marine cargo policies cover goods during import and export, including any incidental storage, as well as domestic distribution. Stock throughput polices can cater for all this plus other, intentional storage…read more
Engineering Insurance: Covering contractors’ all risks (CAR), erection all risks (EAR) and contractors’ plant; machinery movement (and installation), breakdown and business interruption; deterioration of stock; and electronic risks…read more
Claims Management: We pride ourselves on prompt and efficient claims management, which is supported by the use of independent surveyors and adjusters to quantify larger losses and to give advice on mitigation measures…read more