In this episode, host Sara Vollmer and Steffen Bergholz, Global Head NACORA International Insurance Brokers Group, talk about how a manta ray school video led to a pioneering collaboration to protect endangered marine life, and explain how maritime insurance provides safety of goods in transit – especially when unexpected things happen.

Key topics of this episode are: How the idea of the cooperation with the Marine Megafauna Foundation (MMF) came about and what is supports, why insurance is so important in sea freight as well as what the principle "General Average" means and how you can protect your cargo from it.

Recorded in December 2022.

Details: 

(02:12) Steffen introduces Nacora Blue and how it protects the environment.

(03:09) Sara and Steffen discuss the Marine Megafauna Foundation (MMF), and Steffen shares how the idea of cooperating with the Marine Megafauna Foundation (MMF) came about.

(05:02) Steffen talks about an environmental award that Nacora won in Switzerland.

(06:00) Steffen shares his hopes for this initiative and how it could help others to start similar initiatives.

(09:30) A brief history of insurance in the sea freight industry is given. 

(11:17) Sara asks Steffen about what happened to businesses that had cargo on the vessels in the Suez Canal in the 2021 incident. Steffen responds by explaining the notion of the general average.

(15:06) Sara and Steffen discuss what could happen if a business does not book insurance for their cargo. 

(15:40) Steffen shares the figures of the highest general average costs he has encountered.

(17:14) Steffen mentions the percentage of the insured cargo and discusses how customers can be made aware of the benefits of cargo insurance, especially in the current climate of the world.