2022 — A Year in Focus: Lessons Learnt in a World Full of Risk

Loss prevention is central to TT’s service ethos and last year saw its professional risk management experts deliver insight into the extent and detailed characteristics of many of the critical threats to the safety and security of global freight supply chains, many of which are on-going. ‘2022 – A year in focus’ the complete twenty pages of which are available for free download HERE , reaffirms the advice TT offers to counter these high-level risks.

Peregrine Storrs-Fox, Risk Management Director explains TT’s risk mitigation philosophy further, “While the loss prevention team strives to identify topics and initiatives that contribute significant value to both Members and the industry at large, the wider mission of helping to make the industry safer and more secure remains core to the entire TT operation. In this publication, in addition to reviewing an array of risk management guidance materials produced throughout the year, colleagues across the world offer insights on particular threats they are seeing on a day-to-day basis, demonstrating the breadth and depth of the global expertise.”

So while the review continues to highlight TT’s campaigns to bring a more widespread awareness of such dangers as lithium-ion battery transport, quay crane boom collisions, freight crime, warehouse security and abandoned cargo it also presents the experiences of the TT service network from Greece to Taiwan, from Argentina to Hong Kong and from the USA to Turkey. Such practical insight includes advice on General Average, detention charges as a result of port congestion, risks surrounding LOIs (Letters of Indemnity) as well a ‘full liability contracting’ and air cargo cover.

TT therefore offers ‘2022 – A year in focus’ not just as a review of what has been but as a guide to on-going risks and hazards that those engaged in the global freight supply chain can either learn from or use to refresh their risk management policies. Managing Director, Loss Prevention, Mike Yarwood emphasises cooperation as key, “Working together to understand individual business and industry needs is vital to ensure that loss prevention activities remain relevant and valuable. We cannot create this content alone. The running message throughout this publication is that each and every initiative has been driven by feedback from our Members and brokers, which provides invaluable on-the-ground input to achieve a safer, more secure and more sustainable trade environment.”
Source: TT Club

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