By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
LigaAsuransi
Monday, Jul 7, 2025
  • What's Hot:
  • Ulas Berita
  • Risk Recommendation
  • Berita Kecelakaan
  • Financial Liability
  • Breaking News
  • Asuransi Marine Cargo
  • Marine
    • Asuransi Marine Cargo
    • Asuransi Marine Hull
  • Business
    • Engineering
      • Asuransi Konstruksi
    • Liability
      • Financial Risk
      • Airport Liability Insurance
      • Asuransi Liability
      • Financial Liability
      • General Liability Insurance
      • Liability Insurance
      • Product Liability Insurance
      • Professional Liability Insurance
      • Public Liability Insurance
  • Property
    • Asuransi Properti
    • Asuransi Banjir
    • Property All Risk
  • Retail
    • Motor Vehicle
    • Life & Health
      • Asuransi Kesehatan
      • Asuransi Jiwa
  • Agrobisnis
  • Breaking News
  • Proteksi UMKM
  • Indonesia
    • 中文
Reading: 7 Reasons Why Coal Trading companies need insurance for the transportation of goods in the form of Marine Open Policy (MOP)
Subscribe
Font ResizerAa
LigaAsuransiLigaAsuransi
  • Indonesia
  • Home
  • Vehicles Insurance
  • Marine Cargo Insurance
  • Insurance Clause
  • Cyber Risk Insurance
  • General Insurance
  • Golf
  • Risk Recommendation
Search
  • Marines
    • Marine Cargo
    • Marine Hull
    • P&I
    • Shipbuilders
  • Oil and Gas
  • Mining
    • Coal
    • Mining Industry
    • Asuransi Pertambangan
    • Industri Pertambangan
  • Power
    • Asuransi Pembangkit Listrik
  • Infrastructure
  • Commercial
  • Construction
    • Heavy Equipment Insurance
    • Machinery Breakdown Insurance
    • Construction Insurance
  • InsurTech
  • Insurance Update
    • Bedah Polis
    • Bedah Klausul
    • Ulas Berita
    • Tips & Tricks
  • Legal Liability
    • Asuransi Liability
  • Life & Health
  • Indonesia
    • 中文

Trending →

Latest POJK! Mandatory Health Insurance Cost Sharing 10% – What Impact Does It Have on You?

By Mhd. Taufik Arifin ANZIIF (Snr. Assoc) CIIB
Saturday July 5th, 2025

Answering the EV Insurance Challenge for EV Battery Capacity Deterioration Risk: Extended Battery Warranty from OEM or Third Party?

By Hikmah Herdiana
Friday July 4th, 2025

Textile Factory Fire Tragedy in Tangerang: 6 Dead and Huge Losses, Plus 7 Other Accident News You Must Know

By Omar Farhan
Thursday July 3rd, 2025

Don’t Wait for Lawsuits to Come! Medical Malpractice Insurance Saves Doctors’ Careers

By Arya Kumara
Wednesday July 2nd, 2025

Why Do Doctors and Hospitals Need Brokers for Medical Malpractice Insurance?

By Hikmah Herdiana
Wednesday July 2nd, 2025
Follow US
©Copyright by Liga Asuransi - PT. L&G Insurance Broker
LigaAsuransi > Blog > Risk Recommendation > Industri Pertambangan > 7 Reasons Why Coal Trading companies need insurance for the transportation of goods in the form of Marine Open Policy (MOP)
Industri PertambanganRisk Recommendation

7 Reasons Why Coal Trading companies need insurance for the transportation of goods in the form of Marine Open Policy (MOP)

Mhd. Taufik Arifin ANZIIF (Snr. Assoc) CIIB
By Mhd. Taufik Arifin ANZIIF (Snr. Assoc) CIIB
Published Tuesday July 21st, 2020
13.8k Views
1 Min Read
Share
Asuransi Coal Trading
SHARE

 

Liga Asuransi – The most important part of the coal trading business is the transportation of coal from the mine mouth, stockpile and mother vessel to the final location of the buyer’s stockpile. The means of transportation used can be in the form of dump trucks, light trucks, conveyors, barges, large vessels and others.

During the journey, coal stocks can experience accidents such as trucks overturning, overturning, burning, collisions and being looted by others which causes coal to be damaged, lost or shrinking. When coal is transported in rivers or at sea using barges or mother vessels, the risks that can occur include the consequences of the ship running aground, capsizing, burning, looting, spilling due to collisions with other ships.

One of the unique risks of coal transportation insurance is self-combustion. What is meant by self-combustion is a fire that occurs automatically from within the coal itself during the journey. This is due to the nature of coal that can burn itself because it consists of flammable substances. This risk often occurs, therefore this is one of the reasons why insurance companies are less interested in guaranteeing new stone transportation insurance.

To overcome losses due to the risk of coal transportation, an insurance policy is needed that can guarantee all coal transportation from any location to the final destination location anywhere in Indonesia or anywhere in the world. For this reason, a special transportation insurance guarantee is needed called Marine Open Policy (MOP).

Jasa Asuransi Pertambangan

Based on our experience of more than 30 years of handling various shipping insurance risks, here are some things that new stone traders need to pay attention to:

  1. Ordinary Marine Cargo Insurance Policy Is Not Enough

Because the risks faced by the transportation of new stone are complex and special, therefore the ordinary transportation insurance policy or ordinary Marine Cargo Insurance is not suitable. Because it does not include a guarantee due to a fire on coal as a result of self-combustion or burning itself during the journey.

  1. Institute Time Clause – Coal Clause (ITC Coal)

In order for coal transportation insurance to cover the risk due to self-combustion, the form of insurance is the Institute Time Clause – Coal Clause. This guarantee can not automatically be obtained from the insurance company, only if there is a special request.

  1. Marine Open Policy (MOP)

For trading companies that already have large volumes of transactions and shipments of coal every month or every year, they need to make a Marine Open Policy program. The benefits of MOP, premiums are more competitive, administration is simpler, guarantees apply automatically and a stronger bargaining position in front of insurance companies.

  1. Use of Transport Equipment (ships and trucks) according to standards

Because the MOP guarantee applies automatically, there are several conditions that are agreed upon before the MOP policy is issued. One of them is regarding the use of ships and trucks for each coal transportation. Insurance companies require that the means of transportation used must be in good condition, seaworthy, have valid and valid documents. In addition there are also limitations regarding the age of the ship, the size of the DWT and others. As long as these requirements are followed, the shipping insurance guarantee applies automatically.

  1. Shipping value for each shipment and estimated volume in 1 year

The thing that is also a consideration for insurance companies is the shipping value for each shipment. The amount is in quantity, for example in tons and then the amount is in dollars or rupiah. Insurance companies will use this number to measure the level of risk that can occur if an accident occurs on a ship. If all coal cargoes are damaged, the insurance company will replace the entire cargo. The amount of shipping volume in one year is also important for insurance companies to calculate the estimated potential risk and premiums they will receive compared to the risks they face.

  1. Insurance Guarantee Applies Automatically

One of the advantages of MOP is that the guarantee applies automatically. Compare insurance coverage one by one. Each shipment must be reported to an insurance broker, then the broker makes placements with several insurance companies. After getting it, then the insurance broker sends an offer and if it is approved, then the insurance guarantee is issued. Now imagine if the delivery is on a holiday, brokers and insurance companies close eventually there is no insurance coverage! Well, with MOP all these problems will not happen again.

  1. Simple administration

With the MOP, the insurance policy does not have to be issued every time there is a shipment. After the MOP is approved, a master policy or master policy will be issued for the agreed period, for example one year. For each shipment, a certificate of insurance will be issued, usually in a single document. Premium collection is made based on the certificate of insurance. Likewise, if there is a claim, the document is based on the same document.

In conclusion, coal transportation is a high risk, therefore transportation insurance coverage is an important requirement. Unfortunately it is not easy to get the best insurance coverage, competitive premiums, extensive coverage including institute coal clause and simple administration. The solution is with MOP.

Because the insurance company that can provide this guarantee is limited, to get a quality MOP you need the help of an insurance broker company with experience in coal transportation insurance.

—

This article is sponsored by:

Liberty & General Risk Services (L&G Risk Insurance Broker), an insurance broker with more than 15 years of experience and focuses on handling insurance for the Business and Corporate sectors. L&G Risk focuses on the business and corporate sectors because this sector requires a special level of expertise in the insurance sector because apart from being an insurance broker or insurance broker, we also act as experts in risk management of a type of business.

For the safety of our clients, L&G Risk is registered with the OJK and we always report all our activities and are also supervised by the OJK.

We have successfully handled various clients and claims with different types of insurance, including Marine Cargo Insurance, Mining Insurance, Coal Mining Insurance, Construction Insurance, P&I, Bank Guarantees and Surety Bonds.

To get the best insurance coverage, please contact L&G Insurance Broker immediately. Insurance broker with more than 15 years of experience. Registered with the Financial Services Authority and a member of the Association of Indonesian Insurance Brokerage Companies (APPARINDO).

—

Looking for Insurance Products? Call us right now

L&G HOTLINE 24 HOURS: 0811-8507-773 (Call – Whatsapp – SMS)

website: lngrisk.co.id

E-mail: customer.support@lngrisk.co.id

—

Asuransi Pembangkit Listrik Batu Bara kini Semakin Sulit, kenapa?

TAGGED:asuransi pertambanganasuransi pertambangan batubaraperusahaan trading batubaratop topics
Share This Article
Facebook Whatsapp Whatsapp LinkedIn Threads Copy Link Print
ByMhd. Taufik Arifin ANZIIF (Snr. Assoc) CIIB
Follow:
Taufik Arifin has more than 30 years of experience in the insurance brokerage industry. He holds the Australian New Zealand Insurance and Financial Institution (ANZIIF snr.assoc) CIP and Certified Indonesian Insurance Broker (CIIB) certificates. Please follow the author's Instagram to get to know him better: @taufik.arifin.31
Previous Article Top News Liga Asuransi 7 Berita Asuransi Pilihan Minggu ke-3 Bulan Juli 2020
Next Article 7 Alasan Mengapa Perusahaan Go Public Memerlukan Asuransi Directors and Officers (D&O)

From Our Social

lngrisk
@lngrisk
1.4K Posts
1.4K Followers

L&G INSURANCE BROKER

Marine Cargo - Surety Bond - Bank Garansi - Liability - Construction - Heavy Equipment
☎️HOTLINE 24/7 0811-8507-773
L&G Insurance Broker Diawasi OJK

Follow on Instagram
Asuransi Konstruksi - L&G Insurance Broker

Latest News

Latest POJK! Mandatory Health Insurance Cost Sharing 10% – What Impact Does It Have on You?
Asuransi Kesehatan
Saturday July 5th, 2025
43 Views
Answering the EV Insurance Challenge for EV Battery Capacity Deterioration Risk: Extended Battery Warranty from OEM or Third Party?
Asuransi Kendaraan Bermotor
Friday July 4th, 2025
74 Views
Textile Factory Fire Tragedy in Tangerang: 6 Dead and Huge Losses, Plus 7 Other Accident News You Must Know
Berita Kecelakaan
Thursday July 3rd, 2025
65 Views
Don’t Wait for Lawsuits to Come! Medical Malpractice Insurance Saves Doctors’ Careers
Professional Liability Insurance
Wednesday July 2nd, 2025
71 Views
Why Do Doctors and Hospitals Need Brokers for Medical Malpractice Insurance?
Professional Liability Insurance
Tuesday July 1st, 2025
70 Views
Employee Health Insurance Co-Payment: What Is It, How Does It Work, and How Does It Impact HR?
Asuransi Kesehatan
Tuesday June 24th, 2025
135 Views
It Turns Out It’s Different! These Are 5 Things That Differentiate Electric Car Insurance and Regular Car Insurance
Asuransi Kendaraan Bermotor
Tuesday June 24th, 2025
170 Views
The Myriad Impacts of the Lewotobi Volcano Eruption on the Insurance Industry: From Aviation to Property
Risk Recommendation
Friday June 20th, 2025
131 Views
Tips for Saving Employee Health Insurance Costs Without Losing Anyone
Asuransi Kesehatan
Friday June 20th, 2025
122 Views
Understanding Internal Fraud Coverage: Essential Protection for Your Company
Asuransi Fidelity
Thursday June 19th, 2025
126 Views

Related ↷

Seperti Apa Peluang Industri Batubara di tahun 2022?

Thursday March 17th, 2022

Prevent the Risk of Fire in Your Restaurant: Mitigation and Insurance Protection Solutions

Wednesday February 12th, 2025

Top 5 Claims Covered by Professional Indemnity Insurance in Indonesia

Monday March 17th, 2025

Why do Oil and Gas Contracts require Surety Bonds and Bank Guarantees?

Friday August 9th, 2024
  • Advertise with us
  • Newsletters
  • Complaint
  • Deal
Stay tuned for a blend of captivating content that not only informs but also inspires you to navigate the ever-evolving landscape of technology, marketing, and market trends!
LigaAsuransi
  • Asuransi Marine Cargo
  • Asuransi Konstruksi
  • Broker Asuransi
  • InsurTech
  • Property

©Copyright 2025 by Liga Asuransi – PT. L&G Insurance Broker