Stock throughput (STP) policies are designed for companies that import, distribute, or export merchandise. The policy provides cover for all moveable goods (inventory) that are the subject of the insured's trade, including raw materials, semi-finished, and finished products.
What is a Stock Throughput Policy?
An STP is a marine policy that insures a company’s inventory and the flow of goods from the source of production to its final destination, whether at a place of storage or a retail store. An STP policy has three components;
- ocean cargo insurance;
- inland transit; and
- property/storage.
STP policies integrate transportation, inventory storage, material handling, and packaging as they are designed to cover the repositioning of:
- raw materials;
- works in progress; and
- finished goods.
DISCLAIMER
The above is a brief information of the covers available under the Policy. Please request for a copy of the Insurer's Terms and conditions of the policy which shall be binding and considered as final basis for settlement of any dispute.