July 2010

Press Clippings

Collated by ISIS Communications

Export Buyers Guide (Pages 54-55) June 2010

International Transport Journal (Online) 30 June 2010

TT Club retains "A minus / excellent" financial rating A.M. Best, a leading US rating agency, has confirmed mutual insurer TT Club's "A minus / excellent" financial strength rating. TT Club's issuer credit rating is also "A minus". The agency said that TT Club's outlook for next year is stable. A.M. Best said that it expects TT Club to maintain strong consolidated risk-adjusted capitalisation in 2010, despite a small decrease in retained earnings. The agency commented positively that TT Club has a prudent approach to setting reserves, with a significant margin established above the internal actuary's best estimate.

www.ttclub.com

London Matters (Online) 1st July 2010

TT maintains A- rating

US rating agency AM Best has confirmed mutual insurer TT Club’s financial strength rating as A- (Excellent), as well as the issuer credit rating of ‘a-‘.

The agency said that the outlook for TT Club over the next year is ‘stable’. The agency said that it expected the club to “maintain strong consolidated risk-adjusted capitalisation in 2010 despite a small decrease in retained earnings”. The agency commented that TT Club employs a prudent approach to setting reserves with a significant margin established above internal actuary’s best estimate.

The club's CEO, Charles Fenton, said: “Although 2010 represents another challenging year as the global economy recovers, the Club’s strong balance sheet and high level of solvency positions it well for the economic up-turn.”

TT Club says its business strategy includes: further development of the high service standards offered to the Club’s traditional core market sectors, including port operators, cargo handling facilities, and container owners and lessors; a focus on the transport and logistics sector in order to grow the business and also strong cost control.

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Lloyd’s List (Page 3) 3 July 2010

Fairplay (Pages 4-5) 8 July 2010

CargoNews Asia (Online) 12 July 2010

July 12, 2010

Time to get over the 'secure means costly' mindset Implement supply chain security correctly and it won't be an unwanted cost, say two executives in the risk management business. Correspondent Phil Hastings reports Many organisations around the world are still not buying into the idea that investment in better supply chain sec-urity should be seen as an opportunity for value enhancement rather than as just another unwanted business cost. Confirmation of that picture was provided by the TT Club, a leading provider of insurance and related risk management services to the international transport and logistics industry, and ICHCA International, an organisation that promotes safety and efficiency in the handling and movement of goods by all modes, who have just collaborated in the publication of a new handbook designed to "guide all operators in the supply chain on how to enhance value through effective security implementation". According to the two organisations, the handbook, Supply Chain Security - Management, Initiatives and Technologies, "not only promotes good practice but also explains why security need not be seen as an unnecessary drain on resources and can actually provide a significant contribution to the bottom line". Asked by Cargonews Asia whether that concept was now widely accepted by companies involved in managing supply chains, Peregrine Storrs-Fox, TT Club's risk management director, said research carried out for the new publication indicated that "probably the balance is towards those who still see enhanced security as a cost - which is one of the reasons we decided to put out the book". "We wanted to get over the idea that where security is carefully integrated with the management processes and allied to other processes within the operation that's when the benefits will come and there is significant value to be derived from that," he said. For the moment, though, confirmed Carina Dixon, who chairs ICHCA's International Security Panel, "we are still battling against the mindset that security is just an additional cost rather than something people can actually enhance their business with". She said part of the reason for that was the fact that security had been forced on everyone following various events around the world over the past few years. "The approach from people has been to try to comply with whatever they have been asked to do, to put a tick in the box, rather than having a look at security and thinking 'well this is something we need to be doing these days so how should we best manage it, how can we make this thing work for us'." Storrs-Fox outlined several other factors that he felt were behind the unwillingness of many organisations to take on board the argument about security being seen as a value enhancement opportunity rather than an unwanted cost. One was the fact that a lot of the supply chain security focus post 9/11 had been on the "dirty bomb'' angle

"and I think a lot of people in the industry don't see that as very much of a real potential so to some extent they see a flawed logic in why security is such a big issue". Another factor, he agreed, was the continuing disparity in security regulations and enforcement around the world. "That has made it more difficult for people to sign into the idea that improved security is something which really is going to bring them value and deliver some sort of level playing field." He suggested wider adoption of the ISO 28000 standard called Specification for Security Management Systems for the Supply Chain, which could have a role to play by providing a benchmark for compliance with any of the security regimes in the world. "The standard has been designed to incorporate most of the requirements of the various security regulations and initiatives now in force, so by adopting ISO 28000, operators will automatically be complying with these regulations - it's a sort of security one-stop shop," he said. Dixon said ISO 28000 was a very good way to go for supply chain operators, large or small, global or local, "because it makes you look at security as part of your operations, not as something in isolation that you have to do". "That for me is the key thing as security is often ineffective because it is not given the position within the business that it should be." In the longer term, added Storrs-Fox, being certified to ISO 28000 was likely to deliver competitive advantage. "Customers will be more inclined to contract with those who are following good practice in security matters. It will demonstrate to customers, business partners and employees a company's commitment to effective security practices and the protection of their personnel, goods and assets."

DVZ (Pages 1&2) 17 July 2010

Lloyd’s Loading List (Pages 10-11) 26 July 2010

Heavy Lift & Project Forwarding International (Online) 28 July 2010

TT Club continues support for FIATA's training initiative July 28 - FIATA has revealed the names of the four regional finalists who will be competing for the title of Young International Freight Forwarder of the Year 2010 and a prize that includes hands-on training experience at one of TT Club's regional centres in London, Hong Kong or New Jersey. Commending the quality of their dissertations as "extremely high", FIATA has announced the regional finalists as: Region Africa/Middle East - Rion Henning, South Africa; Region Americas - Claudia Ramirez, Canada; Region Asia/Pacific - Ng Kah Yong, Singapore; Region Europe - Philipp Kueffner, Germany.

Now in its twelfth year, the Young International Freight Forwarder of the Year Award is recognition by FIATA and the participating sponsors of the need to develop quality in the industry and to reward young talent with valuable training opportunities. TT Club has been a sponsor of the award since its inception and firmly believes in the importance of individual training and development within the industry.

The award consists of practical and academic training, including a week based at one of the TT Club's regional centres in London, Hong Kong or New Jersey, attendance at the "Insight into Transport Law and Insurance" course in London and a week-long course at an IATA training centre.

TT Club's European regional director, Andrew Kemp commented: "TT Club is proud to continue partnering FIATA in supporting this training initiative through sponsorship of the YIFFY Awards. The Club is well known around the world for the emphasis it places not only on efficient claims handling but also on sound loss prevention advice. We hope that the international winners who come to us for training will return to their employers with a greater understanding of the nature of risk in the supply chain and the importance of managing it effectively."

Transport Weekly (Online) 30 July 2010

TT Club continues support to FIATA’s training initiative

The Young International Freight Forwarder of the Year (YIFFY) Award, which has entered its 12th year, is recognition by the International Federation of Freight Forwarders Associations (FIATA) and the participating sponsors of the need to develop quality in the industry and to reward young talent, according to Exim News Service.

TT Club has been a sponsor of the award since its inception.

The award consists of practical and academic training.

This includes a week-based at one of the TT Club’s regional centres in London, Hong Kong or New Jersey, attendance at the ‘Insight into Transport Law and Insurance’ course in London and a week-long course at an IATA training centre.

Additionally, one year’s free subscription to the International Transport Journal (ITJ), Switzerland and International Freighting Weekly in the UK, is provided.

Documentation for the 2011 Award will be distributed to National Associations towards the end of this month with the usual deadline for nominating candidates by January 15, 2011.

Ports & Harbors (Page 39) July 2010

Freight Business Journal (Page 27) Issue 2 2010