SkyCell offers $4m product loss insurance for pharma shipments
08 / 04 / 2019
Pharma airfreight container lessor SkyCell has launched its ‘Peace of Mind Insurance’ comprehensive insurance cover of $4m per unit against product loss.
The Switzerland-based manufacturer is providing the “hassle-free” insurance add-on which will be introduced into the rental agreement with SkyCell’s customer base in order to eliminate the risk of product loss for its clients.
Said a spokesperson for the company: “Backed by a multinational commercial insurance company, SkyCell is the only provider of pharma containers to offer such a de facto temperature performance guarantee for the transport of temperature-sensitive pharmaceuticals.
“Common practice today is that all players in the pharma supply chain – freight forwarders, airlines and packaging companies – exclude any financial responsibility in case of temperature excursion. This leaves all the risk with the pharma manufacturer. SkyCell’s new Peace of Mind Insurance add-on closes this gap.”
Richard Ettl, chief executive of SkyCell, said: “We want to give all our clients a peace of mind when shipping their sensitive pharmaceuticals and to stop worrying about temperature excursions. On top of providing them with the safest pharma containers in the market, our Peace of Mind Insurance systematically eliminates the financial impact of product loss.
“It’s impeccable and audited track record enables SkyCell to get coverage of up to $4m product value per container.”
SkyCell transport planners undertake a risk assessment for every shipment to define lane standard operating procedures (SOPs) together with the shipper, freight forwarder and airlines.
Marrie Groeneveld, chief commercial officer at SkyCell, said: “Our SkyCell Transport Planner helps us to identify the risks, mitigate them and insure them. With our new insurance offering, we want our clients not to have the slightest doubt about the safe transport of their valuable cargo anymore. This is an absolute novelty in our business”.
One of the big four international audit companies scrutinised and audited all SkyCell shipment results for 12 months. According to the results of the study, temperature excursions happened only during 0.1 percent of the transports with a SkyCell container.