Post by : Badri Ariffin

The Dubai Chamber of Commerce partnered with DP World and Dubai Customs to host an Export Majlis event, aimed at unveiling the newly introduced Cargo War Risk Insurance program.

The gathering attracted 267 attendees, including representatives from manufacturing, exporting, and logistics sectors. This new initiative addresses potential disruptions affecting trade routes in the Middle East, providing smoother cargo transit during uncertain times.

Officials detailed the advantages of the Cargo War Risk Insurance program, which encompasses comprehensive protection for ocean and air freight, port storage, and inland transportation. Unlike conventional insurance policies that focus on only one aspect of the supply chain, this program offers extensive coverage throughout multiple cargo movement phases.

H.E. Mohammad Ali Rashed Lootah, the President and CEO of Dubai Chambers, reiterated the organization’s dedication to helping the private sector navigate the evolving landscape of global trade. He emphasized that this initiative aims to bolster operational resilience, enhance business continuity, and mitigate international trade risks.

Furthermore, Lootah highlighted that the event effectively connected key players in manufacturing, trade, and logistics with tangible solutions to ensure uninterrupted supply chains, reinforcing Dubai’s stature as a vital global logistics hub.

Yuvraj Narayan, Group CEO of DP World, underscored the critical nature of supply chain resilience given the intricate global trade scenario. He shared insights into how DP World’s Cargo War Risk Insurance program is crafted to safeguard cargo operations and sustain trading activities along essential regional routes.

Narayan pointed out that by integrating DP World’s extensive logistics network with tailored risk coverage, businesses can transport goods with enhanced confidence, even in areas characterized by heightened risks.

During the Export Majlis, DP World shed light on the insurance program's coverage for physical losses or damages stemming from war-related risks. The initiative supports cargo transit through key trade corridors, encompassing the Arabian Gulf, Red Sea, and adjacent inland routes.

This insurance solution is accessible to all businesses operating in or through the Middle East, specifically targeting risks not adequately covered by standard insurance options.

In addition, Dubai Customs elaborated on its commitment to sustaining business operations through strategic measures, including developing regulatory frameworks for alternative trade routes, extending transit times, and enhancing coordination to facilitate faster responses and smoother trade processes.

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