Stock throughput (STP) policies are designed for companies that import, distribute, or export merchandise. The policy provides cover for all movable goods (inventory) that are the subject of the insured’s trade, including raw materials, semi-finished, and finished products. The goods are covered at all times whether in transit, undergoing process (although damage caused by the manufacturing process is excluded), or in storage at owned or third-party premises.
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
• Property / Storage (Maximum up to 180 days)
STP policies integrate transportation, inventory storage, material handling, and packaging as they are designed to cover the repositioning of:
• raw materials
• works in progress
• finished goods
The premium is based on the Estimated Annual Turnover and is adjustable at the end of the policy period based on actuals.
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