Part III Electronic Documents: Emerging Practices, 12 Electronic Systems for Cargo Insurance

Subject(s):

Cargo claims — Electronic commerce and choice of law — Documents — Claims on insurance

This concluding chapter examines electronic systems set up for the issue and transfer of cargo insurance documents. The availability of electronic services and solutions in this field has progressed rapidly in recent years, with the introduction of electronic infrastructures and messaging platforms. Nevertheless, although the use of electronic communications for certain aspects of the insurance business has increased dramatically, some practical barriers remain, such that a full transition to electronic media has not yet occurred. The chapter then considers these practical barriers in the context of placing, issuing evidence of cover, and claims processes. The barriers in the placing process include cultural resistance; unequal progress being made by different participants in the market in establishing and refining systems for electronic communication; the need for the electronic processes to mirror and integrate with existing practices; and finally the costs involved in innovating.