Dubai Chambers Unveils DP World Cargo Risk Insurance Initiative

Post by : Bianca Suleiman

Under the auspices of Dubai Chambers, the Dubai Chamber of Commerce recently conducted an Export Majlis event alongside DP World and Dubai Customs to unveil the new Cargo War Risk Insurance programme. This initiative is tailored to support businesses in safeguarding their supply chains amidst fluctuating trade conditions.

The event saw the participation of 267 stakeholders, including manufacturers, exporters, and logistics providers. The newly introduced programme aims to mitigate the challenges affecting trade routes within the Middle East and facilitate more seamless cargo transfers during uncertain times.

During the session, officials elaborated on the advantages of the Cargo War Risk Insurance programme. Unlike traditional policies that often focus on specific segments of the supply chain, this comprehensive solution ensures protection across essential transport stages, covering ocean freight, air freight, port storage, and inland logistics.

H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized the chamber's commitment to empowering the private sector to navigate the evolving global trading landscape. He remarked that this initiative is aimed at enhancing operational resilience, bolstering business continuity, and mitigating international trade risks.

Lootah further noted that the event created valuable connections among businesses in manufacturing, trade, and logistics, presenting practical solutions to enhance supply chain resilience while reinforcing Dubai’s role as a key global trade and logistics center.

Yuvraj Narayan, Group CEO of DP World, underscored the escalating importance of supply chain resilience in today's intricate global trade climate. He described the Cargo War Risk Insurance programme as instrumental in safeguarding cargo operations and ensuring continuity across vital regional trade routes.

Narayan pointed out that by integrating DP World’s logistics network with tailored risk coverage, companies can operate with greater certainty, even in areas identified as high-risk.

At the Export Majlis, DP World illustrated how the insurance programme addresses physical damage or loss from war-related incidents. This solution is designed specifically for trade across critical corridors like the Arabian Gulf, the Red Sea, and adjacent inland routes.

Available to all companies engaged in trade within or passing through the Middle East, this insurance plan seeks to cover risks that conventional policies may overlook.

Meanwhile, Dubai Customs shed light on its role in ensuring business sustainability through various strategic measures. These initiatives include establishing regulatory frameworks for alternative trade routes, extending transit durations, and fostering better coordination with stakeholders to enhance response efficiency and facilitate smoother trade operations.

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