Crawford & Company has announced the creation of a dedicated Logistics, Transportation & Freight division in Singapore, designed to service insurers providing coverage to logistics service providers and freight forwarders.
With Singapore’s geography placing it as an international logistics and freight hub, and to cater to the expanding needs of insurers in this space, Crawford has brought together a team of experienced local loss adjusters to provide a specialty service.
Singapore Country Manager Arne Eisfeld said that freight and transportation companies often provide one-stop-shop services, including third party logistics, to assist customers’ operations. He said when claims are made in this environment, they can be complex given the number of parties involved, in addition to the various service agreements in play.
“Whether the claim is a sprinkler water damage incident in a logistics warehouse involving stock-in-trade covered under an Industrial All Risk policy, or a supply chain claim involving a Comprehensive General Liability policy, or even a Freight Forwarder’s liability claim … our team which includes experienced adjusters with both non-marine and marine claims backgrounds is well placed to assist,” Eisfeld said.
The Logistics, Transportation & Freight division is led by veteran loss adjuster Dan Yeo who has been with Crawford since early 2023 and boasts over 30 years of experience in loss adjusting and marine claim investigations.
“Having a solid understanding the insureds’ business is key to best practice loss adjusting services in this very specialised sector,” Yeo explained.
“Claims that arise require quite specific expertise. The risk and insurance community needs a team of experts with the industry focus to evaluate and assess damages under extreme conditions.
“The Crawford team is focused on reducing indemnity spend which in turn offers financial assurance for insurers; transparent claims procedures and reporting standards; as well as a network of experts within Crawford’s global operations who can be tapped into where necessary.
“We are seeing that more value-added services are being outsourced to logistics and freight service providers by their diversified customers and these claims are becoming very complex. They involve various industries, integrated technological supply chain platforms, international laws and global contracts. So, having the skillset to understand the IT systems, supply chain operations and the complexity of the governing laws is essential,” Yeo added.
Eisfeld explained that the team had been brought together based on client need. “These types of claims are not for general adjusters; they require certain expertise by adjusters who specialise in the marine and transportation industries and beyond.”
“This team is highly skilled at balancing the requirements of the insurance claim with the commercial demands of both the insurance company and the insured’s business. Our adjusters are highly skilled at guiding clients on how to manage their customer’s expectations,”
Eisfeld noted.
Between them, Crawford Singapore’s new division boasts 85 years of collective experience. Jackson Yeo is the team’s co-director, alongside Dan Yeo. Other team members include Luo Guo Liang, Eunice Jang and Cirilo Cabesas. Earlier this year, Cabesas was named the most ‘Outstanding Marine Surveyor and Advocate for Environmental Protection of the Year,” awarded by the non-governmental organisation Pillars of Public Service in the Philippines.
