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i3 Inventory

"Stock Throughput Insurance - An ugly name but beautiful coverage.”


Don’t be put off by the “ugly” name - we prefer the simple title “inventory insurance”, which is why our coverage is called “i3 Inventory”.


i3 Inventory is a single policy that insures a company’s raw materials and its inventory from the source of production to its final destination, whether at a place of storage or a retail store, or in transit to an end user. Cover includes raw materials, work in progress during the manufacturing phase, and finished products - anywhere in the world. i3 Inventory combines traditional insurance policies - ocean cargo insurance; aviation cargo; inland transit; property/storage; business interruption - into a single policy. 
The benefits of i3 Inventory coverage are:

  • Seamless asset protection throughout the insured's supply chain, from purchase of raw materials to finished product inventory
  • Designed for companies that manufacture, import, distribute, or export merchandise
  • Almost any type of business can benefit from i3 Inventory - we can cover almost everything that is shipped from raw materials, foods, produce, to finished products such as autos - even hazardous materials, unusually large loads and biotech material
  • “All Risks” cover for all moveable goods (inventory) that are the subject of the insured’s trade, including raw materials, semi-finished, and finished products
  • Removing stock and inventory values from traditional fixed Property insurance frees-up expensive “catastrophe” insurance capacity.
  • Goods are covered at all times whether being manufactured or assembled, in transit, or in storage at owned or third party premises
  • i3 Inventory combines the traditionally separately purchased insurance policies of marine cargo, inland transit and stock property insurance, providing seamless asset protection throughout the insured’s supply and distribution chain
  • i3 Inventory is one global policy versus several policies = simple, easier risk and policy management.No potential 'gap' in insurance, no disputes as to which insurer is responsible, and a seamless claims settlement
  • More efficient risk management, i.e. one policy versus several policies
  • Better pricing is possible with a single policy
  • Better deductible levels
  • i3 Inventory provides capacity for catastrophe perils, such as windstorm, flood and earthquake shock, where little may otherwise be available
  • i3 Inventory eliminates the need to purchase a separate, stand alone cargo policy, thus freeing up those dollars to be used to enhance the client's core property coverage
  • i3 Inventory offers the option of a Selling Price valuation basis that includes the insured’s mark-up, thus reducing the need for Business Interruption insurance
  • i3 Inventory can be extended to cover the deposit the Insured has paid for goods which are then damaged by an insured peril before they are received by the insured, e.g. when the goods are damaged by a fire at the manufacturer’s factory before the insured has title
  • Contingent business interruption can be added, e.g. for the delay of a start-up business due to loss or damage to inventory
  • The risk of increased costs incurred in obtaining alternative warehousing following loss or damage to inventory can be covered by means of Extra Expense coverage
  • Coverage for goods detained by governments can be provided. Coverage for goods which cannot be accessed because of a governmental or civil authority denying the Insured access to the goods because of an insured peril can be covered, even though the goods themselves are not physically damaged
  • Business Interruption exposure under non-marine property policies, and therefore less cover is required and overall premium costs are reduced
  • Capacity to excess of CAD 500,000,000 any one loss any one location
  • i3 Inventory offers flexibility of coverage, which can be on a stand-alone basis, a dual cover basis (with the use of joint loss and joint deductible clauses), an excess basis or as reinsurance, either for a commercial insurer, or for a captive insurer



Why should your client buy i3 Inventory insurance?


The benefits of i3 Inventory are many. When a business depends on raw materials, a manufacturing process, shipping and warehousing, it cannot afford to wait for insurers to battle out their legal disputes before it is reimbursed for damaged or stolen inventory. i3 Inventory provides one policy and one insurer for your clients’ needs, door to door over land and sea, so your clients’ goods are good to go!


To download an application please click here.


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Why do you need i3 Underwriting?

One reason may be that i3 aims to add efficiencies for both the broker and insurer through the introduction of easy to use, on-line services.
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